TASK SHEET

Title: Develop Chart of Accounts

Performance Objectives: Given the previous information sheets. You should

be able to develop chart of account

Supplies/ Materials/ Equipment:, Paper, Ballpens, Eraser, Journal Sheets

Steps and Procedure:

1. Based on the information provided, develop the chart of accounts to be
used in balance sheet accounts and income statement accounts.
2. The accounts are listed based on assets, liabilities and owners’ equity
3. Provide account numbers for each accounts.
4. Develop chart of accounts based on the accounts presented below.

Balance Sheet Accounts Income Statement Accounts

Accounts Payable Depreciation Expense – Office Equipment
Accounts Receivable Depreciation Expense – Service Vehicle
Accumulated Depreciation Insurance Expense
Capital Interest Expense
Cash Miscellaneous Expense
Income Summary Referral Revenues
Interest Payable Rent Expense
Notes Payable Revenues
Office Equipment Salaries Expense
Prepaid Insurance Supplies Expense
Prepaid Rent Utilities Expense
Salaries Payable
Service Vehicle
Supplies
Unearned Referral Revenues
Utilities Payable
Withdrawals
Assessment Method:

• Demonstration evaluation using performance criteria checklist

• Portfolio Assessment
 PERFORMANCE CRITERIA CHECKLIST 1.1-5

Trainee’s Name: _______________________ Date: __________________

CRITERIA YES NO

Did I…….

 Provide chart of accounts to be used in balance sheet

accounts and income statement accounts
 List the accounts based on asset, liabilities and owners’
equity
 Provide account numbers for each accounts

Comments and Suggestions:

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