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

question 163

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.

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Definitions:

Assembly Line Workers

Employees who work on a production line, operating machinery and assembling products.

Police Officers

Law enforcement personnel responsible for maintaining public order, enforcing laws, and preventing, detecting, and investigating crimes.

Potentially Violent Employee

An employee who shows signs or behavior that could indicate a risk of engaging in workplace violence.

Computerized Assembly

The process of using computer-controlled and automated machinery to assemble products with precision and speed.