Chapter 1

Question 1

Chart of Accounts

Answer 1

List of all of the account titles a company usues in buisness

1. Assest
2. Liability
3. Owners Equity
4. Revenue Accounts
5. Expense Accounts

Question 2

List of accounts

Answer 2

1. Assets: Record here what company Owns
2. Liability: Record here what the company owes
3. Owner’s Equity: Record here how much the owners put into and take out of the company
4. Revenue: Record here revenues from sales of products andservices the company has earned
5. Expense: Record here expenses