Jill Accardo. M.O., maintains the accounting records of Accardo Clinic on a cash

Question

Jill Accardo. M.O., maintains the accounting records of Accardo Clinic on a cash basis. During 2014, Dr. Accardo c 144.380 from bar patients and paid 61,390 in expenses. At January 1, 2014, and December 31, 2014, she had accounts receivable, unearned servica revenue, accrued expenses, and prapaid expenses as follows. (All long-lived assets are renced.) prepare a schedule that converts Dr. Accarde's excess of cash collected over cash disbursed" for the year 2014 to not income as an accrual basis for the year 2014.

Explanation / Answer

account receivable opening balance 12006 cash received 144580 unearned revenue 1193 sale 147309 closing balance 15928 Total 160508 Total 160508 unearned revenue opening balance 2961 account receivable 1193 closing balance 4154 Total 4154 Total 4154 accrued expenses cash 60125 opening balance 3521 expense 58730 closing balance 2126 Total 62251 Total 62251 prepaid expenses opening balance 1979 cash 1265 closing balance 3244 Total 3244 Total 3244

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