TWO PARTS TO QUESTION, CHEGG WOULDNT LET ME POST IN ONE QUESTION. TO LONG, PLEAS
ID: 2380255 • Letter: T
Question
TWO PARTS TO QUESTION, CHEGG WOULDNT LET ME POST IN ONE QUESTION. TO LONG, PLEASE ANSWER OTHER TOO
Adria Lopez created Success Systems on October 1, 2013. The company has been successful, and its list of customers has grown. To accommodate the growth, the accounting system is modified to set up separate accounts for each customer. The following chart of accounts includes the account number used for each account and any balance as of December 31, 2013. Adria Lopez decided to add a fourth digit with a decimal point to the 106 account number that had been used for the single Accounts Receivable account. This change allows the company to continue using the existing chart of accounts.
No. Account Title Debit Credit
101 Cash $ 48,412
106.1 Alex's Engineering Co. 0
106.2 Wildcat Services 0
106.3 Easy Leasing 0
106.4 IFM Co. 3,130
106.5 Liu Corp. 0
106.6 Gomez Co. 2,778
106.7 Delta Co. 0
106.8 KC, Inc. 0
106.9 Dream, Inc. 0
119 Merchandise inventory 0
126 Computer supplies 720
128 Prepaid insurance 1,825
131 Prepaid rent 725
163 Office equipment 8,150
164 Accumulated depreciation
Explanation / Answer
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