Carlisle Company Is a Newly Organized Business

question 34

Essay

Carlisle Company is a newly organized business. The list of accounts to be opened in the general ledger is as follows: Organize the accounts into the order in which they should appear in the ledger of Carlisle Company and assign account numbers. Use the following system to assign account numbers.
100-199 Assets
200-299 Liabilities
300-399 Owner's Equity
400-499 Revenues
500-599 Expenses

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Definitions:

Derived Demand

The demand for a factor of production or intermediate good that results from the demand for another intermediate or final good.

Retained Earnings

Profits that a company has earned to date, less any dividends or other distributions paid to shareholders.

Venture Capital

Capital provided by investors to startups and small enterprises deemed to possess significant potential for long-term expansion.

Well-Established Firms

Companies that have been in operation for a long time and have a firm position in the market.