Question

E4-26 (similar to) Boston Veterinary Hospital completed the following worksheet as of December 31, 2018 (Click the icon to view the partial worksheet.) Read the requirements. Requirement 1. Complete the worksheet for Boston Veterinary Hospital. Complete the worksheet by preparing the Income Statement and Balance Sheet columns. Be sure to calculate the total debits and credits in each step. Boston Veterinary Hospital Worksheet December 31, 2018 Income Adjusted Trial Balance Statement Account Names Debit Credit Debit Credit 34,100 10,400 350 9,000 26.000 Cash Accounts Receivable Office Supplies Prepaid Rent Equipment Accumulated Depreciation Equipment Accounts Payable Unities Payable Salaries Payable Unearned Revenue Common Stock 1,100 3,600 340 1,275 7,100 40,000 Enter any number in the edit fields and then click Check Answer parts o remaining Clear All

Answer 1

Boston Veterinary Hospital
Worksheet
31-Dec-18
Account Name	Adjusted Trial Balance		Income Statement		Balance Sheet
	Debit	Credit	Debit	Credit	Debit	Credit
Cash	34100				34100
Accounts receivable	10400				10400
office supplies	350				350
prepaid rent	9000				9000
equipment	26000				26000
Accumulated Depreciation - Equipment		1100				1100
Accounts Payable		3600				3600
Utilities Payable		340				340
Salaries Payable		1275				1275
Unearned Revenue		7100				7100
Common Stock		40000				40000
Retained Earnings		53410				53410
Dividends	17000		17000
Service Revenue		30000		30000
Rent Expenses	22500		22500
Salaries Expenses	10275		10275
Supplies Expenses	600		600
Utilities Expenses	5500		5500
Depreciation Expenses - Equipment	1100		1100
*Net profits for the year					26975
	136825	136825	56975	30000	106825	106825
*Net profit for the year = (Credit- Debit) $30000-$56975 =		$ (26,975.00)
*Note Net profits for the year can alternatively be reduced from the retained year in the Balance sheet, instead of showing it as a debit balance
I hope this answer helps you, please make a thumbs up if like the solution or please comment, in case any improvement in the solution or help need