The following general ledger accounts are included in the trial balance for a client, Jones Wholesale Stationery Pty Ltd.

REQUIRED
a. Identify the accounts in the trial balance that are likely to be included in each transaction cycle. Some accounts will be included in more than one cycle. Use the format that follows.

b. How would the general ledger accounts in the trial balance most probably differ if the company were a retail store rather than a wholesale company? How would they differ for a hospital or a government unit?

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Income tax expense Income tax payable Accounts receivable Advertising expense Travelling expense Accounts payable Debentures Share capital Unexpired insurance Furniture and equipment Cash at bank Notes receivable-trade Purchases Sales salaries expense Accumulated depreciation of furniture and equipment Notes payable Allowance for doubtful debts Inventory Property rates expense Interest expense Depreciation expense Sales Salaries, office and general Telephone expense Bad debt expense nsurance expense Interest receivable Interest income Accrued sales salaries Rent expense Prepaid interest expense Property rates payable -furniture and equipment Retained profits Cycle Sales and collection Acquisition and payment Payroll and personnel Inventory and warehousing Capital acquisition and repayment Balance sheet accountsIncome statement accounts