Describe steps for setting up a new company


Problem:

Available - Ch 11 Comp Project - Mookie i Saved All associated information and instructions for the Chapter 11 case are presented between pages 706 and 713 in the text. The steps for setting up a new company in Section 11.3 (pages 706 to 713) must be attempted before attempting any of the following questions. Required: The following accounts are from Mookie The Beagle Coach's Chart of Accounts. For each account, identify Account Type and Financial Statement on which it appears. Note: Complete all steps listed for C11.3.1 to C11.3.7 in the text prior to attempting the following question. Account Account Type Financial Statement 1. Sales 2. Checking 3. Accounts Receivable (A/R) 4. Rent and Lease 5. Prepaid Expenses 6. Prepaid Expenses: Supplies 7. Office Supplies and Software 8. Prepaid Expenses: Insurance 9. Insurance Expense: Liability Insurance Expense 10. Payments to Deposit 11. Accounts Payable (A/P) 12. VISA Credit Card 13. Prepaid Expenses: Rent 14. Interest Expense 15. Contractors 16. Legal and Professional Services 17. Advertising and Marketing 18. Retained Earnings 19. Inventory

 

 

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Accounting Basics: Describe steps for setting up a new company
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