Solved: Assign account numbers to accounts, Accounting Basics

Assign account numbers to accounts

Why do we assign account numbers to accounts and in what format or listing we assign them?

Example:

a) inventory (d) Withdrawals

b) Accounts Payable (e) Service Revenue

c) Capital (f) Depreciation Expense

Here are the list of numbers to choose from.

a) 101 (b) 131 (c) 191 (d) 211 (e) 281 (f) 311 (g) 321 (h) 411 (i) 531

Please also in brief explain to me why are the numbers assigned and what format or order are they assigned.

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Accounting Basics: Assign account numbers to accounts

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Solution Preview :

Prepared by a verified Expert

Accounting Basics: Assign account numbers to accounts

Reference No:- TGS01739277

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

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Solution Preview :

Prepared by a verified Expert

Accounting Basics: Assign account numbers to accounts

Reference No:- TGS01739277

Recent Questions Asked Accounting Basics

Q : Is net income a standard for investors

Q : Transfer price for mmc using the general rule

Q : What is the division margin-divisions turnover

Q : Consolidated balance sheet at the date of takeover

Q : Assign account numbers to accounts

Q : Consolidated expense account affected by accounting method

Q : Fasb and gasb for accounting and financial reporting

Q : Review comprehensive annual financial report

Q : Reality program-the accountant

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