Question

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. Helen Samoa, P.C., at December 31, 2018. From the trial balance, determine total assets, total liabilities, and total stockholders' equity on December 31. Print Done and then click Check Answer.

Answer 1

2.Ledger Beg Beg Dec 31(a) Accounts Receivable $ $ 4,900 Dec 6 Dec 31(a) Dec 31(0) Dec 31(d) End. Cash $ $ 64,000 Dec 9 $ 150,000 $ 4,900 Dec 31(0) $ 4,900 $ 1,300 Dec 31(e) $ 1,000 $ 34,000 $ 119,700 End. $ 4,900 Beg Dec 12 $ $ Medical Supplies $ 1,000 Dec 31 2,400 Beg Dec 9 Land $ $ 64,000 End $ 1,400 End $ 64,000 Dec 31(e) $ Accounts Payable 1,300 $ Beg $ 2,400 Dec 12 Notes Payable $ Beg $ 34,000 Dec 31(d) $ 1,100 End $ 34,000 End Common Stock $ Beg $ 150,000 Dec 6 Service Revenue $ Beg $ 9.800 Dec 31(a) $ 150,000 End. $ 9,800 End. Salary Expense Rent Expense Beg Dec 31(0) $ $ Beg Dec 316) $ $ 3,600 900 End $ 3,600 End. $ 900 Utilities Expense Beg Dec 31(0) $ $ 400 End. $ 400

AAA DR.Helen Samosa,P.C Trial Balance December 31,2018 Account Particulars Debit Credit Cash $ 119,700 Accounts Receivable $ 4,900 Medical Supplies $ 1,400 Land $ 64,000 Accounts Payable $ 1,100 Notes Payable $ 34,000 Common Stock $ 150,000 Service Revenue $ 9,800 Salary Expense $ 3,600 Rent Expense $ 900 Utilities Expense $ 400 TOTAL $ 194,900 $ 194,900 $ AAA

DR.Helen Samosa,P.C Income Statement For Month Year December 31,2018 Revenues: Service Revenue $ 9,800 Expenses: Salary Expense $ 3,600 Rent Expense $ 900 Utilities Expense $ 400 Total Expenses $ 4,900 Net Income $4,900 DR.Helen Samosa,P.C Retained Earnings Statement For Month Year December 31,2018 Beginning Retained Earnings, $ Add: Net Income $ 4,900 $4,900 Less: Dividends $ Retained Earnings,December 31,2018 $4,900 $ 190,000 DR.Helen Samosa,P.C Balance sheet December 31,2018 Assets: Cash $ 119,700 Accounts Receivable $ 4,900 Medical Supplies $ 1,400 Land $ 64,000 Total Assets Liabilities: Accounts Payable $ 1,100 Notes Payable $ 34,000 Total Liabilities Stockholders Equity: Common Stock $ 150,000 Retained Earnings $ 4,900 Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ 35,100 $ 154,900 $ 190,000

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