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assets liability owners' equity income expense account
assets, liabilities, stockholders' equity, revenues, expense
Five general ledger divisions would be assets, liabilities, equity, revenues, and expenses.
c. General Ledger
chart of account is a chart
assets liability owners' equity income expense account
assets, liabilities, stockholders' equity, revenues, expense
the companys organizational structure.
Five general ledger divisions would be assets, liabilities, equity, revenues, and expenses.
c. General Ledger
chart of account is a chart
The Chart of Accounts is the system of accounts that make up the General Ledger. This begins with our assets starting with the most liquid (cash) and numbered usually as follows. 1000 - 1999: asset accounts 2000 - 2999: liability accounts 3000 - 3999: equity accounts 4000 - 4999: revenue accounts 5000 - 5999: cost of goods sold 6000 - 6999: expense accounts 7000 - 7999: other revenue (for example, interest income) 8000 - 8999: other expense (for example, income taxes)
The chart of accounts for the retail establishment includes Cash and Sales.
http://www.google.com/search?q=law+firm+chart+of+accounts
the numbering and layout of a Chart of Accounts?
Property Tax goes in the Expense section of the Chart of Accounts
its important