You have been given the following guide regarding the chart of accounts for Paquette Advisors: 100-199 Assets
Question:
100-199 Assets 400-99 Revenues
200-299 Liabilities 500-599 Expenses
300-399 Equity
Using the account information from Exercise 2-6, develop a chart of accounts for Paquette Advisors.
Transcribed Image Text:
Cash Accounts Receivable Office Equipment 15,000 3,800 22,500 Accounts Payable Unearned Revenue Aaron Paquette, Capital 8,000 2,600 9,500 Aaron Paquette, Consulting Revenues Salaries Expense Withdrawals 41,700 10,000 2,000 Utilities Expense Rent Expense 7.500 1,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (13 reviews)
They could choose any account number within the specified range Ac...View the full answer
Answered By
Niala Orodi
I am a competent and an experienced writer with impeccable research and analytical skills. I am capable of producing quality content promptly. My core specialty includes health and medical sciences, but I can competently handle a vast majority of disciplines.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen
Question Posted:
Students also viewed these Accounting questions
-
You have been given the following information for Corkys Bedding Corp.: a. Net sales = $11,250,000 b. Cost of goods sold = $7,500,000; c. Other operating expenses = $250,000; d. Addition to retained...
-
You have been given the following information for Moores HoneyBee Corp.: a. Net sales = $32,000,000; b. Gross profits = $18,700,000; c. Other operating expenses = $2,500,000; d. Addition to retained...
-
You have been given the following information for PattyCakes Athletic Wear Corp. for the year 2015: a. Net sales = $38,250,000; b. Cost of goods sold = $22,070,000; c. Other operating expenses =...
-
The gun 25kV In a television tube, a beam of electrons from 0.22mm de ofonmeter; they arrive5.6 x 104 electrons per second. Calculate the magnetic fieldIt isproduced by the beam at a point1.5mm from...
-
Define wiki and wiki log.
-
The following alphabetical list of selected accounts taken from the general ledger of Mayne Corporation identify the accounts that are part of shareholders' equity as of December 3 1 , Year 2 :...
-
This chapter placed emphasis on a "transaction-based perspective" related to customers. What would be different about a transaction involving an investor? What do we mean by transaction?
-
Kara Fashions uses straight-line depreciation for financial statement reporting and MACRS for income tax reporting. Three years after its purchase, one of Kara's buildings has a carrying value of...
-
Question 1 Envelope Company began operations this month mass-producing pull-and-seal envelopes. During the month of July, it completed 25,000 units and has 20,000 units that are 65% complete. It had...
-
Branson paid $626,400 cash for all of the outstanding common stock of Wolfpack, Inc., on January 1, 2020. On that date, the subsidiary had a book value of $428,000 (common stock of $200,000 and...
-
MiraCom incurred the following transactions during July 2014, its first month of operations: July 1 The owner, Mira Delco, invested $5,000 cash. 10 Purchased $2,500 worth of equipment on credit. 12...
-
After its first month of operations, Paquette Advisors showed the following account balances in its General Ledger accounts as at January 31, 2014. During February, the following transactions...
-
The Carroltons are deliberating whether to purchase a house or continue to rent for the next 10 years. They are assured by both of their employers that no transfers to new locations will occur for at...
-
Now that you have received a superior review of the skill-sets that are required of Customer Service Representatives in thorough detail describe and discuss the benefits of this customer service...
-
discuss 3 areas of concern and how these can affect accredition and or financial status
-
Define a structured inspection and contrast it with an unstructured inspection. Ideally, who should conduct the inspection? Why? What are the four types of countermeasures? Give an example of each...
-
Explain why you might have gotten different appearing colonies on plates 2 and 3. The plates you are using for this lab will be autoclaved eventually to completely sterilize them. The measures taken...
-
Calculate the amount of Gross Profit Average Stock: Rs 50,000 Stock Turnover Ratio: 10 times Selling Price: 20% above Cost Calculate Cost of Goods Sold: Sales: Rs 15,00,000; Sales Return: Rs 1,00,000...
-
Performing sensitivity analysis on a certain piece of data should require changing its value in how many places on the spreadsheet?
-
Evaluate the integral, if it exists. Jo y(y + 1) dy
-
What two arguments tend to justify classifying all costs as either fixed or variable even though individual costs might not behave exactly as classified?
-
What two arguments tend to justify classifying all costs as either fixed or variable even though individual costs might not behave exactly as classified?
-
How does assuming that operating activity occurs within a relevant range affect cost-volume-profit analysis?
-
A taxpayer disposed a part of asset for 100,000 SR in cash. The taxpayer purchased that asset for 90,000 SR 5 years ago but the market value of the complete assets was as follows: Part disposed...
-
A company maintains debt/equity ratio of 0.6. The flotation cost of equity is 12% and flotation cost of debt it is 6%. The firm is considering a new project which will require $5 million in external...
-
Flight Caf prepares in-flight meals for airlines in its kitchen located next to a local airport. The company's planning budget for July appears below: Flight Caf Planning Budget For the Month Ended...
Study smarter with the SolutionInn App