FABM 1

Performance Task I – 2: Chart of Accounts

Flores Patrick D. Section: ABM-B

Business Name: Quicky Elite Taxi

Type: Service Company
Products and/or services: Providing transportation to passengers

Chart of Accounts

Balance sheet account Income statement account

Account Account
Number. Number.

Assets Income

Current Assets

110 Cash on hand 610 Revenue

120 Cash in bank 620 Fares

130 Short – term investment 630 Gratuity
140 Account receivable 670 Interest income

150 Allowance for bad debts 699 Miscellaneous income

160 Note receivable
170 Fuel Inventory
180 Cleaning supplies Expenses

190 Prepaid rent

200 Prepaid Insurance 701 Cost of sales
705 Freight-out
Non-current Assets 710 Salaries expense
720 Rent expense
210 Vehicles 730 Fuel expense
220 Accumulated depreciation-Vehicles 740 Repair and Maintenance - Vehicles
240 Property 750 Bad debts expense depreciation
260 Accumulated depreciation-Property 760 Insurance - Vehicles
280 Plant 770 Wages expense
290 Accumulated depreciation-Plant 780 Payroll Taxes expense
790 Interest expense
Liabilities 799 Miscellaneous expense

Current Liabilities

310 Accounts payable

330 Wages payable
360 Taxes payable
380 Notes payable(Short term)
400 Loans payable(Short term)

Non-current Liabilities

410 Notes payable(Long term)

440 Loans payable(Long term)
480 Mortgage payable

Equity

510 P.Flores capital

550 P.Flores drawing