PROBLEM 4- 1 DEVELOPING A CHART OF ACCOUNTS

Rodrigo Lucena organized a new business and named it Lucena Business Consultancy.
Listed below are the accounts that will be needed in the ledger:

Consulting Revenues Lucena, Withdrawals

Arrange Accounts Receivable Income Summary these
accounts in Building Office Supplies Expense the order
Cash Lucena, Capital
in which they
Rent Expense Notes Payable
would appear
Furniture and Fixtures Prepaid Rent
in the
Land Interest Expense ledger.
Assign Miscellaneous Expense Salaries Expense each
account a Referral Revenues Unearned Consulting number,
using a Revenues three-
digit Accu. Depreciation-Building Office Supplies
numbering Accu. Depreciation-F/F Interest Payable scheme:
the 100 Depreciation Expense-Building Insurance Expense series
Depreciation Expense-F/F Accounts Payable
for assets. 200 for
liabilities, etc. Use
the second digit to indicate specific accounts within a major category; for example, cash
would be account number 110.