Question

10 DJ Wall. Durine the ending balance in each account. (Record transactions from the of each T-account. i Requirements 1. 2. 3. Post the entries to the ledger, using T-accounts. Key transactions by date. Determine the ending balance in each account. Prepare the trial balance of Dr. Char Morin, P.C., at July 31, 2018. From the trial balance, determine total assets, total liabilities, and total stockholders' equity on July 31. Print Done Rent Expense

Answer 1

edger Accounts Payable 600 Dec 12 Dec 6 Dec 31'(e) $ $ 1,500 Service Revenue Dec 31(a) $ 9,100 Dec 31(a) Dec 31(c) Dec 31(d) $ $ $ $ Cash 155,000 Dec 9 4,550 Dec 316) 500 Dec 31(e) 33,000 $ $ $ 62,000 5.100 600 End. $ 900 End. $ 9,100 End. $ 125,350 Accounts Receivable 4,550 Notes Payable Dec 31(d) Salary Expense 3,300 Dec 31(a) $ $ 33,000 Dec 31(b) $ End $ 4,550 End. $ 33,000 End. $ 3,300 Medical Supplies 1.500 Dec 31© Common Stock Dec 6 Rent Expense 1,400 Dec 12 $ $ 500 $ 155,000 Dec 31(b) $ End. $ 1,000 End. $ 155,000 End. $ 1,400 Land 62,000 Utilities Expense 400 Dec 9 $ Dec 31(b) $ End. 62,000 End. $ 400

DR.Helen Samosa,P.C Income Statement For Month Year December 31,2018 Revenues: Service Revenue $ 9,100 Expenses: Salary Expense $ 3,300 Rent Expense $ 1,400 Utilities Expense $ 400 Total Expenses $ 5,100 Net Income $ 4,000 DR.Helen Samosa,P.C Trial Balance December 31,2018 Account Particulars Debit Credit Cash $ 125,350 Accounts Receivable $ 4,550 Medical Supplies $ 1,000 Land $ 62,000 Accounts Payable $ 900 Notes Payable $ 33,000 Common Stock $ 155,000 Service Revenue $ 9,100 Salary Expense $ 3,300 Rent Expense $ 1,400 Utilities Expense $ 400 TOTAL $ 198,000 $ 198,000 $ DR.Helen Samosa,P.C Retained Earnings Statement For Month Year December 31,2018 Beginning Retained Earnings, $ Add: Net Income $ 4,000 $ 4,000 Less: Dividends $ Retained Earnings, December 31,2018 $ 4,000

$ 192,900 DR.Helen Samosa,P.C Balance sheet December 31,2018 Assets: Cash $ 125,350 Accounts Receivable $ 4,550 Medical Supplies $ 1,000 Land $ 62,000 Total Assets Liabilities: Accounts Payable $ 900 Notes Payable $ 33,000 Total Liabilities Stockholders Equity: Common Stock $ 155,000 Retained Earnings $ 4,000 Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ 33,900 $ 159,000 $ 192,900

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