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More INTO ons are not req in exchange for Jul. 1 Yang contributed $69,000 cash to the business in exchange for common stock.
ommon stock i Accounts X Х The business uses the following accounts: Cash; Accounts Receivable; Office Supplies; Land; Accoun
Read the requirements. July 1: Yang contributed $69,000 cash to the business in exchange for common stock. Date Accounts Debi
Read the requirements. July 9: Paid $15,000 cash to purchase land to be used in operations. Date Accounts Debit Credit Jul. 9
Read the requirements July 19: Borrowed $32,000 from the bank for business use. Accounts Date Credit Debit Jul. 19 July 22: P
Read the requirements. July 28: The business received a bill for advertising in the daily newspaper to be paid in August, $29
Read the requirements. July 31 (b): Paid employees salaries $2,700, office rent $1,200, and utilities $250. Record these ent
HUUU UU UUM July 31 (d): Paid cash dividends of $7,400. Date Accounts Debit Credit Jul 31 (d) Requirement 2. Post the journal
Vincent Yang practices medicine under the business title Vincent Yang, M.D. During July, the medical practice completed the f
Read the requirements Land Common Stock Advertising Expense Dividends Requirement 3. Prepare the trial balance of Vincent Yan
Vincent Yang practices medicine under the business title Vincent Yang, M.D. During July, the medical practice completed the f
Vincent Yang practices medicine under the business title Vincent Yang, M.D. During July, the medical practice completed the f
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Answer #1
Date Accounts Debit Credit
Jul. 1 Cash 69000
Common stock 69000
Jul. 5 Rent expense 570
Cash 570
Jul. 9 Land 15000
Cash 15000
Jul. 10 Office supplies 1200
Accounts payable 1200
Jul. 19 Cash 32000
Notes payable 32000
Jul. 22 Accounts payable 1100
Cash 1100
Jul. 28 Advertising expense 290
Advertising payable 290
Jul. 31 Cash 7100
Accounts receivable 5700
Service revenue 12800
Jul. 31 Salaries expense 2700
Rent expense 1200
Utilities expense 250
Cash 4150
Jul. 31 Cash 1220
Unearned revenue 1220
Jul. 31 Dividends 7400
Cash 7400
Cash Accounts Payable Service Revenue
Jul. 1 69000 Jul. 5 570 Jul. 22 1100 Jul. 10 1200 Jul. 31 12800
Jul. 19 32000 Jul. 9 15000 Bal. 100 Bal. 12800
Jul. 31 7100 Jul. 22 1100
Jul. 31 1220 Jul. 31 4150 Advertising Payable Salaries Expense
Jul. 31 7400 Jul. 28 290 Jul. 31 2700
Bal. 81100 Bal. 290 Bal. 2700
Accounts Receivable Unearned Revenue Rent Expense
Jul. 31 5700 Jul. 31 1220 Jul. 5 570
Jul. 31 1200
Bal. 5700 Bal. 1220 Bal. 1770
Office Supplies Notes Payable Utilities Expense
Jul. 10 1200 Jul. 19 32000 Jul. 31 250
Bal. 1200 Bal. 32000 Bal. 250
Land Common Stock Advertising Expense
Jul. 9 15000 Jul. 1 69000 Jul. 28 290
Bal. 15000 Bal. 69000 Bal. 290
Dividends
Jul. 31 7400
Bal. 7400
Victor Yang, M.D.
Trial Balance
July 31, 2018
Account Debit Credit
Cash 81100
Accounts receivable 5700
Office Supplies 1200
Land 15000
Accounts payable 100
Advertising payable 290
Unearned revenue 1220
Notes payable 32000
Common stock 69000
Dividends 7400
Service revenue 12800
Salaries expense 2700
Rent expense 1770
Utilities expense 250
Advertising expense 290
Total 115410 115410
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