Construct a chart of accounts, assigning account numbers and arranging the accounts in balance sheet and income statement order ("1" for assets, and so on). Each account number is three digits. Contra accounts should designated with a decimal of the account (100.1 for contra of account 100). Assets and liabilities should be in order of liquidity, expenses should be in alphabetical order.

Question

Construct a chart of accounts, assigning account numbers and arranging the accounts in balance sheet and income statement order ("1" for assets, and so on). Each account number is three digits. Contra accounts should designated with a decimal of the account (100.1 for contra of account 100). Assets and liabilities should be in order of liquidity, expenses should be in alphabetical order.
Construct a chart of accounts, assigning account numbers and arranging the accounts in balance sheet and income statement order ( 1 for assets, and so on). Each account number is three digits. Contra accounts should designated with a decimal of the account (100.1 for contra of account 100). Assets and liabilities should be in order of liquidity, expenses should be in alphabetical order.

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The Answer of Construct a chart of accounts, assigning account numbers and arranging the accounts in balance sheet and income statement order ("1" for assets, and so on). Each account number is three digits. Contra accounts should designated with a decimal of the account (100.1 for contra of account 100). Assets and liabilities should be in order of liquidity, expenses should be in alphabetical order.

Construct a Chart of Accounts, Assigning Account Numbers and Arranging