Kimmel, Financial Accounting, 8e ed·Study & Practice GradebookION Downloadable e
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Kimmel, Financial Accounting, 8e ed·Study & Practice GradebookION Downloadable eTextbook Question 1 | Windsor, Inc., opened an incorporated dental practice on January 1, 2017·During the first morth of operations, fling 1. Performed services for patients who had dental plan insurance. At January 31, $840 of such services was completed but 2. Utility expenses incurred but not paid prior to January 31 totaled $610. 3. Purchased dental equipment on January 1 for $83,500, paying $27,150 in cash and signing a $56,350, 3 year note payabi 4. Purchased a 1-year malpractice insurance policy on January 1 for $24,000. 5. Purchased $1,930 of dental supplies (recorded as increase to Supe es)On anuary 31, determined that SS60 d soles Prepare the adjusting entries on January 31. Account titles are Accumulated Depreciation-Equipment, Depreclation Expense, Se Utilities Expense, and Accounts Payable. (If no entry is required, select "No Entry for the account titles and enter for No. Date Account Titles and Explanation Debit Credit 1. Jan. 31 2. Jan. 31 3. Jan. 31 To record depreciation expense) 2000-201iahn Wiley.ASsinc AIR All Rights Reserved. A Divson of Agceement1Brasy PRlicx 1 pe here to searchExplanation / Answer
Date General Journal Debit Credit 31-Jan Accounts Receivable 840 Service Revenue 840 31-Jan Utility Expense 610 Accounts Payable 610 31-Jan Depreciation Expense--Equipment 610 Accumulated Depreciation--Equipment 610 31-Jan Interest Expense 580 Interest Payable 580 31-Jan Insurance Expense 2000 Prepaid Insurance 2000 24000/12 31-Jan Supplies Expense 1370 Supplies 1370
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