Question

Warren smith practices medicine under the business title Warren Smith M.D. During April, the medical practice completed the following transaction. April 1" Smith deposit $78,000 cash in the business bank account. The business gave capital to smith april sh Paid monthly rent on medical equipment $780 pril 9 paid $18,000 cash to purchase land for an office site purchased supplies on account $1200 pril 19th Borrowed $20000 from the bank for business use. Smith signed a note payable to the bank pril 22 paid $800 on account -pril 10 pril 30th Revenues earned during the month include $5,900 cash and $4,900 on account -pril 30 paid employees salaries $2,000 office rent $1800 and utilities $420. Make a single compand ntry April 30 Owners withdrew $9000

Answer 1

JOURNAL

Date	Accounts and Explanation	Debit	Credit
Apr 1	Cash	78,000
	Capital		78,000
Apr 5	Rent	780
	Cash		780
Apr 9	Land	18,000
	Cash		18,000
Apr 10	Supplies	1,200
	Accounts payable		1,200
Apr 19	Cash	20,000
	Notes payable		20,000
Apr 22	Accounts payable	800
	Cash		800
Apr 30	Cash	5,900
	Accounts receivable	4,900
	Service revenue		10,800
Apr 30	Salaries	2,000
	Rent	1,800
	Utilities	420
	Cash		4,220
Apr 30	Withdrawals	9,000
	Cash		9,000

LEDGERS

Cash Amount Date Particulars 78,000 Apr-5 rent Credit Amounts 780 Debit Date Particulars Apr-01 Capital Notes Apr-19 payable Service Apr-30 revenue 18,000 20,000 Apr-9 Land Accounts 10,800 Apr-22 payable Apr-30 Salaries Apr-30 Rent Apr-30 Utilities Apr-30 With drawis 71,100 800 2,000 1,800 420 9,000

Date Particulars Capital Amounts Date Particulars Apr-01 Cash Amount $ 78,000 78,000

Land Amount $ Date 18,000 Particulars Date Particulars Apr-05 Cash Amount$ 18.000

Date Particulars Notes payable Amount $ Date Particulars Aug-05 Cash Amount$ 20,000 20,000 Date Particulars Aug-15 Cash Accounts payable Amounts Date Particulars 800 Aug-10 Supplies Amounts 1,200 400 Supplies Amount Date Particulars Amounts Date Particulars Accounts Aug-10 payable 1,200 1,200

Salaries Amount Date 2,000 Particulars Date Particulars Aug-16 Cash Amounts 2,000 # Rent Amount Date Particulars Amounts Date Particulars Aug- 16 Cash 1,800 1,800

With drawls Amount Date Date Particulars Particulars Amounts Date Particulars Service Revenue Amounts Date Particulars Apr-30 Cash Amounts 10.800 10.800 Aug-28 Cash 9,000 9,000

TRIAL BALANCE

Account title Debit Credit Cash 71,100 Capital 78,000 Rent 2,5801 land 18,000 Supplies 1,2001 Accounts payable 400 Notes payable 20,000 Accounts receivable 4,900 Salaries 2,000 Utilities 4201 Withdrawals 9,000 Service revenue 10,800 109,200 109,200