Karen White, D.D.S., opened a dental practice on January 1,
2020. During the first month of operations, the following
transactions occurred.
1. | Performed services for patients who had dental plan insurance. At January 31, $734 of such services was performed but not yet billed to the insurance companies. | |
2. | Utility expenses incurred but not paid prior to January 31 totaled $498. | |
3. | Purchased dental equipment on January 1 for $81,000, paying $18,000 in cash and signing a $63,000, 3-year note payable. (a) The equipment depreciates $399 per month. (b) Interest is $540 per month. | |
4. | Purchased a one-year malpractice insurance policy on January 1 for $11,640. | |
5. | Purchased $1,510 of dental supplies. On January 31, determined that $520 of supplies were on hand. |
Prepare the adjusting entries on January 31. Account titles are
Accumulated Depreciation—Equipment, Depreciation Expense, Service
Revenue, Accounts Receivable, Insurance Expense, Interest Expense,
Interest Payable, Prepaid Insurance, Supplies, Supplies Expense,
Utilities Expenses, and Accounts Payable. (Credit
account titles are automatically indented when amount is entered.
Do not indent manually. If no entry is required, select "No entry"
for the account titles and enter 0 for the
amounts.)
Debit | Credit | |||
1 | Accounts Receivable | 734 | ||
Service Revenue | 734 | |||
2 | Utilities Expense | 498 | ||
Accounts Payable | 498 | |||
3(a) | Depreciation Expense | 399 | ||
Accumulated Depreciation—Equipment | 399 | |||
3(b) | Interest Expense | 540 | ||
Interest Payable | 540 | |||
4 | Insurance Expense | 970 | =11640/12 | |
Prepaid Insurance | 970 | |||
5 | Supplies Expense | 990 | =1510-520 | |
Supplies | 990 |
Karen White, D.D.S., opened a dental practice on January 1, 2020. During the first month of...
Sarah Allen, D.D.S., opened a dental practice on January 1, 2020. During the first month of operations, the following transactions occurred. 1. Performed services for patients who had dental plan insurance. At January 31, $749 of such services was performed but not yet billed to the insurance companies. 2. Utility expenses incurred but not paid prior to January 31 totaled $516. 3. Purchased dental equipment on January 1 for $81,000, paying $19,000 in cash and signing a $62,000, 3-year note...
Sandra Robinson, D.D.S., opened a dental practice on January 1, 2020. During the first month of operations, the following transactions occurred. 1. Performed services for patients who had dental plan insurance. At January 31, $784 of such services was performed but not yet billed to the insurance companies. 2. Utility expenses incurred but not paid prior to January 31 totaled $477. 3. Purchased dental equipment on January 1 for $72,000, paying $22,000 in cash and signing a $50,000, 3-year note...
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Margaret Moore, D.D.S., opened a dental practice on January 1, 2020. During the first month of operations, the following transactions occurred. 1. Performed services for patients who had dental plan insurance. At January 31, $800 of such services was performed but not yet billed to the insurance companies. 2. Utility expenses incurred but not paid prior to January 31 totaled $498. 3. Purchased dental equipment on January 1 for $75,000, paying $21,000 in cash and signing a $54,000, 3-year note...
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Current Attempt in Progress Elizabeth Brown, D.D.S. opened a dental practice on January 1, 2020. During the first month of operations, the following transactions occurred. 1. 2. 3. Performed services for patients who had dental plan insurance. At January 31, $820 of such services were performed but not yet recorded Utility expenses incurred but not paid prior to January 31 totaled $680. Purchased dental equipment on January 1 for $84,000, paying $30,000 in cash and signing a $54.000.0, 3-year note...
sandra robison DDS opened a dental practice on january 1 2020 during the firts month of operation trasaction occured. x WileyPLUS x + .wileyplus.com/edugen/Iti/main.uni sroom by oo w Dogwood Elementa w Library Glogs - Dog w Databases and Res D New Tab Student and Parent CALCULATOR PRINTER VERSION BACK E T Exercise 3-06 Sandra Robinson, D.D.S., opened a dental practice on January 1, 2020. During the first month of operations, the following transactions occurred. 1. Performed services for patients who...
Kingbird, Inc., opened a dental practice on January 1, 2020. During the first month of operations, the following transactions occurred. 1. 2. 3. 4. 5. Performed services for patients who had dental plan insurance. At January 31, $810 of such services were performed but not Utility expenses incurred but not paid prior to January 31 totaled $670. Purchased dental equipment on January 1 for $82,000, paying $22,000 in cash and signing a $60,000, 3-year note payable. TI Purchased a one-year...
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