Question

Problem 2-02A a-c (video) Vera Ernst is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred. April 1 Invested $23,000 cash in her business. 1 Hired a secretary-receptionist at a salary of $500 per week payable monthly. 2 Pald office rent for the month $1,300. 3 Purchased dental supplies on account from Dazzle Company $3,800. 10 Performed dental services and billed Insurance companies $5,100. 11 Received $1,000 cash advance from Leah Mataruka for an Implant. 20 Received $1,800 cash for services performed from Michael Santos. 30 Pald secretary-receptionist for the month $2,000. 30 Pald $2,480 to Dazzle for accounts payable due.

Answer 1

Credit Date Apr 1 Debit $23,000 Account title Cash Owner's Capital (To record owners capital in business) $23,000 Apr 1 No Entry (To record hired a secretary salary) Apr 2 $ 1,300 Rent Expense Cash (To record the monthly office rent) $ 1,300 Apr 3 $ 3,800 Supplies Accounts Payable (To record the purchase supplies on account) $ 3,800 Apr 10 $ 5,100 Accounts Receivable Service Revenue (To record billed for service performed) $ 5,100

Apr 11 $ 1,000 Cash Unearned Service Revenue (To record cash receipt on advance basis) $ 1,000 Apr 20 $ 1,800 Cash Service Revenue (To record cash for service performed) $ 1,800 Apr 30 $ 2,000 Salaries and Wages Expense Cash (To record hired a secretary salary) $ 2,000 Apr 30 $ 2,480 Accounts Payable Cash (To record paid on account) $ 2,480

Debit 23,000 $ $ Cash Date Explanation Apr 1 Owner's Capital Apr 2 Rent Expense Apr 11 Unearned Service Revenue Apr 20 Service Revenue Apr 30 Salaries and Wages Expense Apr 30 Accounts Payable Ref J1 J1 J1 J1 J1 J1 No.101 Credit Balance $ 23,000 1,300 $ 21,700 $ 22,700 $ 24,500 2,000 $ 22,500 2,480$ 20,020 $ $ 1,000 1,800 $ $ Date Accounts Receivable Explanation Service Revenue Credit Ref J1 Debit 5,100 No.112 Balance $ 5,100 Apr 10 $ Date Supplies Explanation Accounts Payable Credit Ref J1 Debit 3,800 No.126 Balance $ 3,800 Apr 3 $ Debit Accounts Payable Date Explanation Apr 3 Supplies Apr 30 Cash Ref J1 J1 No.201 Credit Balance 3,800 $ 3,800 $ 1,320 $ $ 2,480 Unearned Service Revenue Date Explanation Apr 11 Cash Debit Ref J1 No.209 Credit Balance 1,000 $ 1,000 $

Owners Capital Date Explanation Apr 1 Cash Debit Ref J1 No.301 Credit Balance 23,000 $ 23,000 $ Debit Service Revenue Date Explanation Apr 10 Accounts Receivable Apr 20 Cash Ref J1 J1 No.400 Credit Balance 5,100 $ 5,100 1,800 $ 6,900 $ $ Salaries and Wages Expense Date Explanation Apr 30 Cash Credit Ref J1 Debit 2,000 No.726 Balance $ 2,000 $ Rent Expense Explanation Cash Date Apr 2 Credit Ref J1 Debit 1,300 No.729 Balance $ 1,300 $

VERA ERNST DENTIST Trial Balances April 30,2020 Account Info Debit Credit Cash $ 20,020 Accounts Receivable $ 5,100 Supplies $ 3,800 Accounts Payable $ 1,320 Unearned Service Revenue $ 1,000 Owners Capital $ 23,000 Service Revenue $ 6,900 Salaries and Wages Expense $ 2,000 Rent Expense $ 1,300 Total $32,220 $32,220 $ $

------------------------------

If you have any queries/doubts,Immediately drop your messages in the comment box !!!! I will help you...
Thanks!!!