Question

Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, was as follows (the amounts are rounded to thousands of dollars to simplify: Debit $8 Credit Account Titles Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Depreciation Expense Amortization Expense Salaries and Wages Expense Supplies Expense Interest Expense Income Tax Expense Totals Бо о р о рын $27 Transactions during 2018 (summarized in thousands of dollars) follow: a. Borrowed $15 cash on July 1, 2018, signing a six-month note payable. b. Purchased equipment for $18 cash on July 2, 2018 c. Issued additional shares of common stock for $4 on July 3. d. Purchased software on July 4. $4 cash. e. Purchased supplies on July 5 on account for future use. $6. f Recorded revenues on December 6 of $50, including $10 on credit and $40 received in cash. g. Recognized salaries and wages expense on December 7 of $23: paid in cash. h. Collected accounts receivable on December 8. $7. 1. Paid accounts payable on December 9. $8. Received a $4 cash deposit on December 10 from a hospital for a contract to start January 5, 2019

I need the whole chart filled out

Answer 1

Normal entries during 2018 Particulars (in '000 of dollars) Debit Credit Adjusting entries on Decen (in '000 of dollars) Particulars Debit Credit Date Date 15 Jul-01 Cash Note payable Dec-31 Amortisation expense Accumulated amortisation 18 4 Jul-02 Equipments Cash Dec-31 Supplies expense (6+4-4) Supplies Jul-03 Cash Common stock Dec-31 Depreciation Accumulated depreciation Jul-04 Software Dec-31 Interest expense Interest payable Cash Jul-05 Supplies Accounts payable Dec-31 Salaries and wages expense Salaries and wages payable Dec-06 Cash Accounts receivable Service revenue Dec-31 Income tax expense Income taxes payable

Dec-07 Salaries and wages expense Cash Dec-08 Cash Accounts receivable Dec-09 Accounts payable Cash Dec-10 Cash Deferred revenue

TRIAL BALANCE Before adjustments Debit Credit Adjustments Debit Credit After adjustments Debit Credit Particulars Cash Accounts receivable Supplies Equipment Accumulated depreciation Software Accumulated amortisation Accounts payable Notes payable (short-term) Salaries and wages payable Interest payable Income taxes payable Deferred revenue Common stock Retained earnings Service revenue Salaries and wages expense Supplies expense Depreciation expense AU ENN

Amortisation expense Interest expense Income tax expense TOTAL 20 112