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ROLLINS COLLEGE CHART OF ACCOUNTS PARTIAL FISTNOTE: This Chart of Accounts is a partial list and is offered to aid in selecting the appropriate accounts for coding expenses. The comments, descriptions,

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What is chart of accounts?

The chart of accounts is a list of all the accounts used by a company to classify financial transactions in its accounting system.

Who is required to file chart of accounts?

All companies are required to maintain a chart of accounts for proper financial record-keeping and reporting.

How to fill out chart of accounts?

A chart of accounts can be filled out by assigning a unique account number and name to each specific type of transaction or financial activity.

What is the purpose of chart of accounts?

The purpose of a chart of accounts is to provide a systematic and organized way to track financial transactions and prepare financial statements.

What information must be reported on chart of accounts?

The chart of accounts must include details of all financial transactions, such as income, expenses, assets, liabilities, and equity.

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