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Using the List of Accounts Below, Construct a Chart of Accounts

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Essay

Using the list of accounts below, construct a chart of accounts for a merchandising business that rents out a portion of its building, and assign account numbers and arranging the accounts in balance sheet and income statement order ("1" for assets, and so on). Each account number should have three digits. Contra accounts should be designated with a decimal of the account (100.1 for contra of account 100). Assets and liabilities should be in order of liquidity, expenses should be in alphabetical order. Using the list of accounts below, construct a chart of accounts for a merchandising business that rents out a portion of its building, and assign account numbers and arranging the accounts in balance sheet and income statement order ( 1  for assets, and so on). Each account number should have three digits. Contra accounts should be designated with a decimal of the account (100.1 for contra of account 100). Assets and liabilities should be in order of liquidity, expenses should be in alphabetical order.


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Social Animal

A term used to describe humans or other creatures that are innately inclined to live in communities or groups.

Social Animals

Refers to species that are inclined to live in communities or groups, interacting with each other for various survival and social benefits.

Cultural Act

An action or behavior that is shaped by and contributes to the customs, beliefs, and traditions of a particular society or group.

Homosexual Behavior

Sexual activities or practices between individuals of the same sex.

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