Question

practices medicine under the business title M. D. During July, the medical practice - following transactions: icon to view the transactions.) (Click the icon to view the company accounts.) Read the requirements. More Info Jul, 1 Yardley contributed $70,000 cash to the business in exchange for capital. 5 Paid monthly rent on medical equipment, $540. 9 Paid $14,000 cash to purchase land to be used in operations. 10 Purchased office supplies on account, $1,700. 19 Borrowed $27,000 from the bank for business use. 22 Paid $1,200 on account. 28 The business received a bill for advertising in the daily newspaper to be paid in August, $280. 31 Revenues earned during the month included $6,500 cash and $6,300 on account. 31 Paid employees' salaries $2,500, office rent $900, and utilities $200. Record as a compound entry. 31 The business received $1,340 for medical screening services to be performed next month. 31 Yardley withdrew cash of $6,800. Print Done 7 any list or enter any number in the input fields and then continue to the next questio

Answer 1

Jounral Entries

Date	Particulars	Debit Amount	Credit Amount
1st July	Cash A/C Dr    To Yardley, Capital A/C	$70000	$70000
5th July	Rent Expense ( Machinery Rent) A/C Dr To, Cash A/C	$540	$540
9th July	Land A/C Dr To, Cash	$14000	$14000
10th  July	Office Supplies A/C Dr To, Accounts Payables A/C	$1700	$1700
19th July	Cash A/C Dr To Notes Payable (Bank)	$27000	$27000
22 nd July	Accounts Payables A/C To, Cash	$1200	$1200
28 July	Advertisng Expense  A/C Dr To, Advertising Payables A/C	$280	$280
31st July	Cash A/C Dr Account Reciveables A/C Dr To, Service revenue	$6500 $6300	$12800
31st July	Salaries Expense A/C Dr Rent Expense (Office Rent) A/C Dr Utility Expense  A/C Dr To, Cash	$2500 $900 $200	$3600
31st July	Cash A/C Dr To, Uneraned Revenue A/C	$1340	$1340
31st July	Yardley, Withdrawals  A/C Dr To, Cash A/C	$6800	$6800

Cash Account

Date	Particulars	Amount	Date	Particulars	Amount
1 July	To, Capital	$70000	5 July	By, Rent ( Medical Equipment )	$540
19 July	To, Note Payable	$27000	9 July	By Land A/C	$14000
31 July	To, Service Revenue	$6500	22 July	By, Account Payable A/c	$1200
31 July	To, Uneraned Revenue A/C	$1340	31 July	By, Salaries Expense A/C	$2500
			31 July	By, Rent expense A/C	$900
			31 July	By, Utilities	$200
			31 July	By,Yardley, Withdrawals  A/C	$6800
			31 July	By, Balance C/D	$78700
	Total	104840		Total	104840
1 August	To, Balance b/d	$78700

Accounts Payable

Date	Particulars	Amount	Date	Particulars	Amount
22 July	To, cash	$1200	10 July	By, Office Supplies	$1700
31 July	To, Balance C/D	$500
	Total	$1700		Total	$1700
			1 August	By Balance b/d	$500

Accounts Receivable

Date	Particulars	Amount	Date	Particulars	Amount
31 July	To, Service Revenue	$6300	31 July	By, Balance C/D	$6300
	Total	$6300		Total	$6300
1 August	To Balance b/d	$6300

Service Revenue

Date	Particulars	Amount	Date	Particulars	Amount
			31 July	By Cash	$6500
31 July	To, P/L acoount	12800	31 July	By, Account receivable	$6300
	Total	$12800		Total	$12800

Salaries Expenses

Date	Particulars	Amount	Date	Particulars	Amount
31 July	To, Cash	$2500	31 July	By P/L Account	$2500
	Total	$2500		Total	$2500

Rent Expense

Date	Particulars	Amount	Date	Particulars	Amount
5 July	To, Cash ( Medical equipment)	$540		By, P/L account	$1440
31 July	To, Cash ( office Rent)	$900
	Total	$1440		Total	$1440

Unearned Revenue

Date	Particulars	Amount	Date	Particulars	Amount
31 July	To, Balance c/d	$1340	31 July	To cash	$1340
	Total	$1340		Total	$1340
			1 August	By Balance b/d	$1340

Office Supplies

Date	Particulars	Amount	Date	Particulars	Amount
10July	To, Account Payables	$1700	31 July	By, P/L A/C	1700
	Total	$1700		Total	$1700

Notes Payable

Date	Particulars	Amount	Date	Particulars	Amount
31 July	To, balance C/d	$27000	19 July	By, Note Payable	$27000
	Total	$27000	total		$27000
			1 August	By Balance b/d	$27000

Utilities Payable

Date	Particulars	Amount	Date	Particulars	Amount
31 July	To cash	$200	31 July	By, P/L account	$200
	Total	$200		Total	$200

Land

Date	Particulars	Amount	Date	Particulars	Amount
9 July	To, Cash	$14000	31 July	By Balance C/d	$14000
	Total	$14000		Total	$14000
1 August	To Balance b/d	$14000

Advertising Expense

Date	Particulars	Amount	Date	Particulars	Amount
28 July	To, Advertising Payable	$280	31 July	By P/L Account	$280
	Total	$280		Total	$280

Advertising Payable

Date	Particulars	Amount	Date	Particulars	Amount
31 July	To, Balance c/d	$280	28 July	By, Advertisement Expense	$280
	Total	$280		Total	$280
			1 August	By Balance b/d	$280

Yardley Capital

Date	Particulars	Amount	Date	Particulars	Amount
31 July	To, Yardley, Withdrawels	$6800	1 July	By, Cash	$70000
31 July	To, Balance c/d	$63200
	Total	$70000		Total	$70000
			1 August	By Balance b/d	$63200

Yardley, Withdrawels

Date	Particulars	Amount	Date	Particulars	Amount
31 July	To, Cash	$6800	31 July	By, Yardley Capital	$6800
	Total	$6800	Total		$6800

Trail Balance for the month of July 31 St 2018

Particulars	Balance
	Debit Credit
Cash Account	$78700
Accounts Receivable	$6300
Salaries Expenses	$2500
Advertising Expense	$280
Utilities Payable	$200
Land	$14000
Office Supplies	$1700
Rent Expense	$1440
Service Revenue		$12800
Yardley Capital		$63200
Advertising Payable		$280
Notes Payable		$27000
Unearned Revenue Accounts Payabale		$1340 $500
Total	$105120	$105120