Accounting Tools

JULY 8, 2024

As an example of how accounting rules may be applied to the assets within a group, all of the fixed assets in the computer software group could be assumed to have the same useful life , to which is applied a standard depreciation methodology. Doing so makes it easier to account for the assets in this group. Receivables.

Petty cash 74

Petty cash Computation Deposits Accounts Receivable 74

Accounting Tools

MAY 10, 2024

Includes bills and coins on hand, such as petty cash. Includes cash kept in depository accounts. Trade accounts receivable. Only includes receivables from the organization's customers. This is the bulk of all accounts receivable, though only if a company extends credit to its customers.

Petty cash 75

Petty cash Accounting Accounting Accounts Receivable 75

Accounting Tools

OCTOBER 3, 2023

Account Number Description 010 Cash 020 Petty cash 030 Accounts receivable 040 Reserve for bad debts 050 Marketable securities 060 Raw materials inventory 070 Work-in-process inventory 080 Finished goods inventory 090 Reserve for obsolete inventory 100 Fixed assets – Computer equipment 110 Fixed assets – Computer software 120 Fixed assets (..)

Petty cash 40

Petty cash Computation Accounting Accounting 40

Accounting Tools

OCTOBER 3, 2023

The following sample chart of accounts uses divisions located in Boston and Omaha to demonstrate how a seven-digit chart of accounts could be structured. Account No.

Petty cash 40

Petty cash Computation Accounting Accounting 40

Accounting Tools

OCTOBER 3, 2023

Account Number Department Description 00-010 xxx Cash 00-020 xxx Petty cash 00-030 xxx Accounts receivable 00-040 xxx Reserve for bad debts 00-050 xxx Marketable securities 00-060 xxx Raw materials inventory 00-070 xxx Work-in-process inventory 00-080 xxx Finished goods inventory 00-090 xxx Reserve for obsolete inventory 00-100 xxx Fixed assets – (..)

Petty cash 40

Petty cash Accounting Accounting Computation 40