Chart of accounts
Monet Paints Co. is a newly organized business with a list of accounts arranged in alphabetical order below.
|
Accounts Payable |
Miscellaneous Selling Expense |
|
Accounts Receivable |
Notes Payable |
|
Accumulated Depreciation—Office Equipment |
Office Equipment |
|
Accumulated Depreciation—Store Equipment |
Office Salaries Expense |
|
Advertising Expense |
Office Supplies |
|
Capital Stock |
Office Supplies Expense |
|
Cash |
Prepaid Insurance |
|
Cost of Merchandise Sold |
Rent Expense |
|
Delivery Expense |
Retained Earnings |
|
Depreciation Expense—Office Equipment |
Salaries Payable |
|
Depreciation Expense—Store Equipment |
Sales |
|
Dividends |
Sales Discounts |
|
Income Summary |
Sales Returns and Allowances |
|
Insurance Expense |
Sales Salaries Expense |
|
Interest Expense |
Store Equipment |
|
Land |
Store Supplies |
|
Merchandise Inventory |
Store Supplies Expense |
|
Miscellaneous Administrative Expense |
|
balance sheet and income statement order, as illustrated in. Each account number is three digits: the first digit is to indicate the major classification (1 for assets, and so on); the second digit is to indicate the sub classification (11 for current assets, and so on); and the third digit is to identify the specific account (110 for Cash, 112 for Accounts Receivable, 114 for Merchandise Inventory, 115 for Store Supplies, and so on).