Question

Diary of activities Jan. 1st, 2018 Jan. 15th, 2018 We collected $100,000 in total from the whole class (some rich students!) We borrowed $200,000 from a local bank (the term is 30 years) We bought an office space for $150,000 We bought office equipment for $10,000 We bought supplies for $6,000 but only paid half of them ($3,000) in cash the other half is on credit. We have hired a staff at an annual wage of $30,000 a manager is paid at an annual wage of $50,000 We've had 150 patient visits so far and each patient brings in $50 revenue per visit (no cash received yet) We paid on call nurses at a rate of $20 per patient visit (paid cash) Each patient visit consumes $10 worth of supply Feb. 19, 2017 By the end of June of 2018 SLIDE 3 OF 4 HELP IMPROVE OFFICE NOTES to search D HI

i need help with the bottom half of the balance sheet

Answer 1

Diary of Activities Journal Enteries Date Particulars 1.1.201x Cash Paid in Capital (Capital Invested) Debit in $ Credit in $ 100000 100000 Debit in $ Credit in $ 100667 7500 4500 150000 200000 Cash Bank Loan (Borrowed from Bank) 200000 10000 Trial Balance For the period ending 30.6.2012 Particulars Cash Accounts Receivable Supplies Office Space Office Equipment Accounts Payable Bank Loan Paid in Capital Fees Earned Wages Expense Salary Expense Nurse service expense Supplies Expense Totals 3000 200000 150000 100000 15.1.201x Office Space Cash (Bought Office space) 150000 7500 12500 10000 Office Equipment Cash (Bought Office Equipment) 20833 3000 1500 10000 310500 310500 6000 3000 Supplies Cash Accounts Payable (Supplies purchased) 3000 7500 Statement of Income For the period ending 30.6.2012 Fees Earned Less: Wages Expense Salary Expense Nurse service expense Supplies Expense Net Loss 12500 12500 20833 1.2.2018 Wages Expense Cash (Wages paid) 12500 3000 1500 37833 -30333 20833 Salary Expense Cash (Manager salary) 20833 Statement of Owner's Equity For the period ending 30.6.201x Paid in Capital Net Loss 100000 -30333 7500 31.6.201x Accounts Receivable Fees Earned (Fees earned) 7500 69667 3000 Nurse service expense Cash (Nurse fees) 3000 1500 Supplies Expense Supplies (Suplies used) 1500

Amounts in $ Amounts in $ Balancesheet As at 30.6.2018 Assets Current Assets Cash Accounts Receivable Supplies 3000 Amounts in $ Amounts in $ Liabilities Current Liabilities 100667 Accounts Payable 7500 4500 112667 Non Current Liabilities Bank Loan 200000 150000 Non Current Assets Office Space Office Equipment Total Assets 10000 Owner's Equity 160000 Paid in Capital 7266 Total Liabilities & Equity 69667 272667 -30333 Statement of Cashflow For the period ending 30.6.2012 Cashflow from Operating Activity Net Loss Adjustments: Increase in Accounts Receivable Increase in Supplies Increase in Accounts Payable Cash used for Operating Activity -7500 -4500 3000 -9000 -39333 Cashflow from Investing Activity Office Space Office Equipment Cash used for Investing Activity - 150000 -10000 - 160000 Cashflow from Financing Activity Paid in Capital 100000 Bank Loan 200000 Cash generated from Financing Activity Net Increase in Cash Beginning Cash Balance Ending Cash Balance 300000 100667 0 100667