- Dr Elyse Burnhart Opened A Medical Practice Specializing In Physical Therapy During The First Month Of Operation Octo 1 (61.43 KiB) Viewed 12 times
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Dr. Elyse Burnhart opened a medical practice specializing in physical therapy. During the first month of operation (October), the business, titled Dr. Elyse Burnhart, Professional Corporation (P.C.), experienced the following events: (Click the icon to view the events.) (Click the icon to view the journal entries.) Read the requirements Medical Supplies Land BIOD Common Stock Requirement 2. Prepare the trial balance of Dr. Elyse Burnhart, P.C. at October 31, 2021 Review the T-accounts prepared in a previous step Dr. Elyse Burnhart, P.C. Trial Balance October 31, 2021 Rent Expense Utilities Expense
Dr. Elyse Burnhart opened a medical practice specializing in physical therapy. During the first month of operation (Octobe (Click the icon to view the events.) (Click the icon to view the journal entries.) Read the requirements Requirement 2. Prepare the trial balance of Dr. Elyse Burnhart, P.C., at October 31, 2021 Review the T-accounts prepared in a previous step Dr. Elyse Burnhart, P.C. Trial Balance - October 31, 2021 Account Balance Debit Credit Total Requirement 3. From the trial balance, determine total assets, total liabilities, and total stockholders' equity on October 31 Total assets Total liabilities Total stockholders' equity
peration (October), the business, titled Dr. Elyse Burnhart, Professional Corporation (P.C.), experienced th More info Oct 6 Oct 9 Oct 12 Oct 15 Oct 15-31 Oct 15-31 Oct 31 Oct 31 Oct 31 C... Burnhart invested $139,000 in the business, which in turn issued its common stock to her. The business paid cash for land costing $62,000. Burnhart plans to build an office building on the land. The business purchased medical supplies for $1,400 on account Dr. Elyse Burnhart, P.C., officially opened for business. During the rest of the month, Burnhart treated patients and earned service revenue of $8,800, receiving cash for half the revenue earned. The business paid cash expenses: employee salaries, $2,700, office rent, $1,400; utilities, $900. The business sold medical supplies to another physician for cost of $200 and received cash. The business borrowed $39,000, signing a note payable to the bank. The business paid $600 on account. Print Done
mon s.) ckholde Reference Oct Oct Oct Oct Od Od Oct 8 Od Date: 6 Cash 9 Land Common Stock Issued stock to owner ( Question 24 of 59 Cash Purchased land 12 Medical Supplies 31 (a) Cash Journal Entry Accounts and Explanations Accounts Payable Purchased supplies on account 15 No entry required Accounts Receivable Service Revenue Performed service for cash and on account 31 (b) Salary Expense Rent Expense Utilities Expense Cash 31(c) Cash Paid expenses Medical Supplies 31 (d) Cash Sold supples > Debit 139,000 62,000 1,400 4,400 4,400 2,700 1,400 900 200 39.000 Credit 139,000 62,000 1,400 8,800 5,000 200 - This Thie X
Reference Oct Oct Oct Oct Oct Oct Oct Oct 9 Land Cash Purchased land. 12 Medical Supplies Accounts Payable Purchased supplies on account. 15 No entry required 31 (a) Cash Accounts Receivable Service Revenue Performed service for cash and on account. 31 (b) Salary Expense Rent Expense Utilities Expense Cash Paid expenses 31 (c) Cash Medical Supplies Sold supplies 31 (d) Cash Note Payable Borrowed money. 31 (e) Accounts Payable Cash Paid on account 62,000 1.400 4,400 4,400 2,700 1,400 900 200 39,000 600 62,000 1,400 8,800 5,000 200 39,000 600