E2-21A (similar to) Question Help dioe specialzing n physica therapy During tho

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E2-21A (similar to) Question Help dioe specialzing n physica therapy During tho frst month of operaion August), he business ted Dr BemicePoessinal Corporation (P.C. experienced the following events: (Click the icon to view the events.) Read the reguirements (Click the icon to vilew the journal entries.) Requirement 1. Post the entries to the ledger, using T-accounts. Key transactions by date. (Recond transactions from the 15-31 of the month as occurring on the last day of the month.) Calculate the balance for each account and enter it on the appropriate side of each T-account Cash Accounts Payable Service Revenue Accounts Recelvable Note Payable Salary Expense Medical Supplies Common Stock Rent Expense Land Utlities Expense Choose from any list or enter any number in the input fields and then click Check Answer

Explanation / Answer

Cash Accounts Receivable Medical Supplies Beg. Bal.                     -        61,000.00 9-Aug Beg. Bal.                     -   Beg. Bal.                   -              500.00 31-Aug 6-Aug    142,000.00            800.00 31-Aug Aug- 15-31        4,300.00 12-Aug      1,800.00 Aug- 15-31        4,300.00        5,100.00 Aug- 15-31 31-Aug            500.00 31-Aug      32,000.00 End. Bal.    111,900.00 End. Bal.        4,300.00 End. Bal.      1,300.00 Land Accounts Payable Note Payable Beg. Bal.                     -   Beg. Bal.                   -   Beg. Bal.                     -   9-Aug      61,000.00 31-Aug            800.00      1,800.00 12-Aug      32,000.00 31-Aug End. Bal.      61,000.00 End. Bal.      1,000.00 End. Bal.      32,000.00 Common Stock Service Revenue Salary Expense Beg. Bal.                     -   Beg. Bal.                   -   Beg. Bal.                   -      142,000.00 6-Aug      8,600.00 Aug- 15-31 Aug- 15-31      2,400.00 End. Bal.    142,000.00 End. Bal.      8,600.00 End. Bal.      2,400.00 Rent Expense Utilities Expense Beg. Bal.                     -   Beg. Bal.                     -   Aug- 15-31        1,000.00 Aug- 15-31        1,700.00 End. Bal.        1,000.00 End. Bal.        1,700.00 Dr. Bernice Maglin P.C. Trial Balance For the Month Ended Aug 31, 2016 Accounts Title Debits Credits Cash    111,900.00 Accounts Receivable        4,300.00 Medical Supplies        1,300.00 Land      61,000.00 Accounts Payable        1,000.00 Note Payable      32,000.00 Common Stock    142,000.00 Service Revenue        8,600.00 Salary Expense        2,400.00 Rent Expense        1,000.00 Utilities Expense        1,700.00 Total    183,600.00    183,600.00                     -   Dr. Bernice Maglin P.C. Income Statement For the Month Ended Aug 31, 2016 Revenue: Service Revenue        8,600.00 Expense: Salary Expense        2,400.00 Rent Expense        1,000.00 Utilities Expense        1,700.00        5,100.00 Net Income        3,500.00 Dr. Bernice Maglin P.C. Statement Of Retained Earnings For the Month Ended Aug 31, 2016 Beginning Balance                     -   Net Income        3,500.00 Ending Balance        3,500.00 Dr. Bernice Maglin P.C. Balance Sheet Aug 31-2016 Assets Current assets Cash    111,900.00 Accounts Receivable        4,300.00 Medical Supplies        1,300.00    117,500.00 Property, Plant & Equipment Land      61,000.00 Total Assets    178,500.00 Liabilities & Stockholders' Equity Liabilities Current Liabilities Accounts Payable        1,000.00 Other Liabilities Note Payable      32,000.00 Total Liabilities      33,000.00 Stockholders' Equity Common Stock    142,000.00 Retained Earnings        3,500.00 Total Stockholders' Equity    145,500.00 Total Liabilities & Stockholders' Equity    178,500.00

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