Presented below is the trial balance of Dr. Dale Lagman for the month of July 16, 2020LAGMAN MEDICAL CLINICTrial BalanceJuly 31, 2020Dr. Lagman, CapitalCash on HandAccounts ReceivableAccounts PayableDr. Lagman, DrawingMedical IncomeInterest IncomeMedical EquipmentFurniture and FixturesPrepaid RentSupplies on HandInterest ExpenseSalaries ExpenseEstimated Uncollectible AccountsNotes PayableLight and Water Expense49,5008,0006,0004,0002,00025,00020050,0005,0004,0001,0003004,0002002,000600Total80,900P.80,900Additional Information:1. Accrued salaries P4,000.2. Supplies on hand P500.3. 5% of the outstanding Accounts Receivable is uncollectible.4. Prepaid rent of P4,000 was applied to month's rent.5. Accrued medical income P3,0006. Light and water unpaid P3007. 10/% depreciation is allowed on all fixed assets.Required:1. Prepare the adjusting entries.2. Prepare a 10-column worksheet. Arrange the accounts according to assets, liabilities, capital, income,and expenses3. Income Statement4. Balance Sheet

The financial statements of the business include the income statement and balance sheet of the firm.

Presented below is the trial balance of Dr. Dale Lagman for the month of July 16, 2020 LAGMAN MEDICAL CLINIC Trial Balance July 31, 2020 P 49,500 Dr. Lagman, Capital Cash on Hand Accounts Receivable 8,000 6,000 Accounts Payable Dr. Lagman, Drawing Medical Income Interest Income Medical Equipment Furniture and Fixtures 4,000 2,000 25,000 200 50,000 5,000

Presented below is the trial balance of Dr. Dale Lagman for the month of July 16, 2020 LAGMAN MEDICAL CLINIC Trial Balance July 31, 2020 P 49,500 Dr. Lagman, Capital Cash on Hand Accounts Receivable 8,000 6,000 Accounts Payable Dr. Lagman, Drawing Medical Income Interest Income Medical Equipment Furniture and Fixtures 4,000 2,000 25,000 200 50,000 5,000

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter12: Liabilities: Off-balance-sheet Financing, Retirement Benefits, And Income Taxes

Section: Chapter Questions

Problem 22E

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