Journalize the transactions of John Daniel, M.D. Include an explation with each entry Jan 1 The business recieved $34,000 cash and gave capital to Daniel Jan 2 Purchasged medical supplies on account, $17,000 Jan 4 Performed servies for patients receiving $1,600 Jan 12 Paid monthly office rent of $3,000 Jan 15 Recorder $7,000 revenue for sercives rendered to patients on account

Journalize the transactions of John Daniel, M.D. Include an explation with each entry Jan 1 The business recieved $34,000 cash and gave capital to Daniel Jan 2 Purchasged medical supplies on account, $17,000 Jan 4 Performed servies for patients receiving $1,600 Jan 12 Paid monthly office rent of $3,000 Jan 15 Recorder $7,000 revenue for sercives rendered to patients on account

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Description: Journalize the transactions of John Daniel, M.D. Include an explation with each entryJan 1 The business recieved $34,000 cash and gave capital to DanielJan 2 Purchasged medical supplies on account, $17,000Jan 4 Performed servies for patients receivin

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 5PB: Lavender Company started its business on April 1, 2019. The following are the transactions that...

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Lavender Company started its business on April 1, 2019. The following are the transactions that happened during the month of April. Prepare the journal entries in the journal on Page 1. A. The owners invested $7,500 from their personal account to the business account. B. Paid rent $600 with check #101. C. Initiated a petty cash fund $250 check #102. D. Received $350 cash for services rendered. E. Purchased office supplies for $125 with check #103. F. Purchased computer equipment $1,500, paid $500 with check #104, and will pay the remainder in 30 days. G. Received $750 cash for services rendered. H. Paid wages $375, check #105. I. Petty cash reimbursement Office Supplies $50, Maintenance Expense $80, Miscellaneous Expense $60. Cash on hand $8. Check #106. J. Increased Petty Cash by $70, check #107.
Journal Entries Recorded Directly in T Accounts Record each of the following transactions directly in T accounts using the numbers preceding the transactions to identify them in the accounts. Each account needs a separate T account. Received contribution of $6,500 from each of the three principal owners of We-Go Delivery Service in exchange for shares of stock. Purchased office supplies for cash of $130. Purchased a van for $15,000 on an open account. The company has 25 days to pay for the van. Provided delivery services to residential customers for cash of $125. Billed a local business $200 for delivery services. The customer is to pay the bill within 15 days. Paid the amount due on the van. Received the amount due from the local business billed in (5).
form the Journal entry of the given transaction: date/s transaction debit credit Sep-02 Garcia invested P30,000 cash to start his business. 2 Purchased medical Supplies on account, P10,000 3 Paid monthly office rent of P4,000. 4 Recorded P5,000 revenue for service rendered to patients: received cash of P2,000 and sent bills to patients for the remainder. 10 Borrowed P50,000 from the bank, signing a note payable 15 Performed service for patients on account, P3,600 22 Received cash from patients billed on September 3, P2,000 25 Received and paid a utility bill, P200 26 Paid monthly salary to nurses, P3,000 30 Paid interest expense of P200
construct the Journal Entry of the transaction: Date/# Account Title Debit Credit Oct-01 Garcia invested P30,000 cash to start his business. 2 Purchased medical Supplies on account, P10,000 2 Paid monthly office rent of P4,000. 3 Recorded P5,000 revenue for service rendered to patients: received cash of P2,000 and sent bills to patients for the remainder. 15 Borrowed P50,000 from the bank, signing a note payable 22 Performed service for patients on account, P3,600 30 Received cash from patients billed on September 3, P2,000 31 Received and paid a utility bill, P200 31 Paid monthly salary to nurses, P3,000 31 Paid interest expense of P200
Create a journal entry and a T-account entry for each of the following transactions: $30,000 worth of supplies purchased with cash $10,000 worth of supplies used to provide clients with goods and services Wages due to employees that had been previously recorded as a liability now paid in cash in the amount of $50,000 Bills submitted to insurance companies in the amount of $90,000 for services rendered to patients Cash payments of $60,000 received for services previously provided and billed $5,000 worth of additional supplies purchased on account
List and record each transaction (in 000s) for the Claymont Outpatient Clinic, under the accrual basis of accounting, at December 31, 20X1. You are creating a General Ledger using exhibit 3-6 on page 112 as a guide. Zelman( Workbook) a. The clinic received a $10,000,000 unrestricted cash contribution from the community. b. The clinic purchased $4,500,000 of equipment using cash. c. The clinic borrowed $2,000,000 from the bank on a long-term basis. d. The clinic purchased $550,000 of supplies on credit. e. The clinic provided $8,400,000 of services on credit. f. In the provision of these services, the clinic used $420,000 of supplies. g. The clinic received $800,000 in advance to care for capitated patients. h. The clinic incurred $4,500,000 in labor expenses and paid cash for them. i. The clinic incurred $2,230,000 in general expenses and paid cash for them. j. The clinic received $6,000,000 from patients and their 3rd party payers in payment of outstanding accounts. k.…
Dr. Pepito de la Torre opened a medical clinic in Las Pinas City, NCR. With the use of a two-column GeneralJournal, record the completed transactions during the first month of its operation using the given chart ofaccounts. 1 - Dr. de la Torre invested cash amounting to P2,000,000 and a clinic furniture worth P2,500,000.2 - Bought medical equipment on account from Medical Equipment Supply amounting to P750,000,paying P200,000 and issued a note for the balance.4 - Bought medical supplies for cash, P100,000.5 - The doctor withdrew for his personal use, P15,000.7 - Medical fees income earned for the week: Cash P50,000 and on account P60,000.9 - Dr. de la Torre made an additional cash investment of P350,000.11 - Full payment of the note issued to Medical Equipment Supply P550,000.14 - Medical fees income earned for the week: Cash P30,000 and on account P10,000.15 - Collected in full the patient’s accounts of July 7, P60,000.18 - Bought medical supplies on account from MEDSCO, P30,000.Page…
Vince York practices medicine under the business title Vince York, M.D. During July, the medical practice completed the following transactions: Jul. 1 York contributed $63,000 cash to the business in exchange for common stock. 5 Paid monthly rent on medical equipment, $510. 9 Paid $23,000 cash to purchase land to be used in operations. 10 Purchased office supplies on account, $1,600. 19 Borrowed $22,000 from the bank for business use. 22 Paid $1,100 on account. 28 The business received a bill for advertising in the daily newspaper to be paid in August, $240. 31 Revenues earned during the month included $6,400 cash and $6,000 on account. 31 Paid employees’ salaries $2,200, office rent $1,900, and utilities $560. Record as a compound entry. 31 The business received $1,120 for medical screening services to be performed next month. 31 Paid cash dividends of $7,200. The business uses the following accounts: Cash;…
Name of account Dr ($) Cr ($) Cash 12,950 Account Receivable 21,350 Office Supplies 55,950 Furniture 38,000 Accounts Payable 17,050 Johnny Soong, Capital 100,000 Johnny Soong, Withdrawals 9,000 Consulting Service Revenue 83,750 Insurance expense 20,000 Salaries expense 9,850 Utilities expense 9,700 Rent Expense 24,000 200,800 200,800 Johnny Soong provides consultancy services to Health & Safety companies. His Trial Balance for the month ended September 30th, 2019 can be found above. Prepare the company’s Income Statement for the month ended September 30, 2019 2. Prepare the company’s Statement of Owner’s Equity for the month ended September 30, 2019 3. Prepare the company’s Balance Sheet as at September 30th, 2019
Enter the transactions shown above in appropriate general ledger accounts Kawabata begins practice as a dentist, invests $20,000 cash, and issues 2,000 shares of $10 par stock. Purchases dental equipment on account from Green Jacket Co. for $17,280 Pays rent for office space, $680 for the month. Employs a receptionist, Michael Bradley. Purchases dental supplies for cash, $942. Receives cash of $1,690 from patients for services performed. Pays miscellaneous office expenses, $430. Bills patients $5,820 for services performed. Pays Green Jacket Co. on account, $3,600. Pays a dividend of $3,000 cash. Receives $980 from patients on account. Bills patients $2,110 for services performed. Pays the following expenses in cash: salaries and wages $1,800; miscellaneous office expenses $85. Dental supplies used during September, $330.
how do i do a journal entry for the following. received cash from clients on account 21,000.00 recorded revenue earned billed to clients during the 1st half of the month 20,900.00 returned a portion of office supplies 50.00 owner withdrawls 10,000 for personal use
Construct an analysis of the following transaction and use the table: Assets = Liabilities + Owner's Equity Account title Debit Credit Account title Debit Credit Account title Debit Credit Mr. Garcia opened a medical practice, Garcia Cures. The following transactions happened in the first month of business. Date Transactions May 1 Garcia invested P30,000 cash to start his business. 2 Purchased medical supplies on account, P10,000. 2 Paid monthly office rent of P4,000. 3 Recorded P5,000 revenue for service rendered to patients: received cash of P2,000 and sent bills to patients for the remainder. 15 Borrowed P50,000 from the bank, signing a note payable 22 Performed service for patients on account, P3,600 30 Received cash from patients billed on September 3, P2,000 31 Received and paid a utility bill, P200 31 Paid monthly salary to nurses, P3,000 31 Paid interest expense of P200