Sigur Ros Company Is a Newly Organized Business Instructions Organize the Accounts into the Order in Which They

Essay

Sigur Ros Company is a newly organized business. The list of accounts to be opened in the general ledger is as follows: $$\begin{array} { l l } \text { Accounts Payable } & \text { Prepaid Insurance } \\\text { Accounts Receivable } & \text { Prepaid Rent } \\\text { Accumulated Depreciation - Equip. } & \text { Rent Expense } \\\text { Cash } & \text { Salaries and Wages Expense } \\\text { Depreciation Expense } & \text { Salaries and Wages Payable } \\\text { Equipment } & \text { Service Revenue } \\\text { Insurance Expense } & \text { Supplies } \\\text { Owner's Capital } & \text { Supplies Expense } \\\text { Owner's Drawings } &\end{array}$$ Instructions Organize the accounts into the order in which they should appear in the ledger of Sigur Ros Company and assign account numbers. Use the following system to assign account numbers. $\begin{aligned}1 - 199 & \text { Assets } \\200 - 299 & \text { Liabilities } \\300 - 399 & \text { Owner's Equity } \\400 - 499 & \text { Revenues } \\500 - 599 & \text { Expenses }\end{aligned}$