1 Assets, 2 Liabilities,3 Equity , 4

Revenues, 5 Expenses
Assets, Liabilities, Equity ,
Revenues,Expenses
Prepare a chart of Accounts that includes the following:
3 Assets Accounts, 2 Liabilities accounts, 2 Equity accounts, 1 Revenue
account and 3 expenses accounts
Account Number Account Name Account Type

1001 Cash Asset

1002

1003

2001

1000 Assets 2000 Liabilities

3000 Equity 4000 Revenues
5000 Expenses
XYZ Company started to operate in January 1,2024.
For the month of January 2024 the following transactions were
incurred:
Jan. 3 – Invested 100,000 worth of cash, 50,000 worth of Equipment
and Vehicle worth 200,000.
Jan. 4 – Purchases goods worth 100,000 with cash.
Jan. 5 – Purchases goods worth 50,000 on credit.
Jan. 10 – Collected cash worth 100,000 for sales.
Jan. 15 – Paid the supplier of goods in accounts for 25,000.
Jan. 20 – Incurred sales worth 50,000 but on credit.
Jan. 25 – Paid monthly salaries of employees for 5,000.
Jan. 30 – Withdraw 5,000 worth of cash from the company.