Module 3, Lesson 2, Worksheet 1 1. Complete th e worksheet using the provided in

Question

Module 3, Lesson 2, Worksheet 1 1. Complete th e worksheet using the provided information. Hull Medical Practice WORKSHEET FOR MONTH ENDED OCTOBER 31, 201x Trial Balance Cr Account Titles Dr 2 1 00 15 0 00 Cash Prepaid Insurance Medical Supplies Patient Transport Truck Accumulated Depreciation, Truck Accounts Payable K. Hull, Capital K. Hull, Withdrawals Revenue from office visits Wages Expense Rent Expense Advertising Expense 4 00 O 2 67 0 16 5 7 1 8 800 3 3 80 5 5 0 32 0 4 1 32 0 4 1 Supplies expense Depreciation expense truck Insurance expense Wage payable Totals Net Income Adjustments Supplies on Hand Depreciation on the Truck for the month Insurance used Wages accrued $450 $1,000 $700 $350

Explanation / Answer

1) Trial Balance Debit Credit Cash 8000 Prepaid insurance 2100 Medical supplies 1500 Patient Transport Truck 15000 Accumulated depreciation-Truck 4000 Accounts payable 2670 K.Hull, Capital 16571 K.Hull, Withdrawals 1000 Revenue from office visits 8800 Wages expense 3380 Rent expense 550 Advertising expense 511 32041 32041 Supplies expense Depreciation expense-Truck Insurance expense Wage payable Totals Net Income Adjustments: Supplies on hand 450 Depreciation on the Truck for the month 1000 Insurance used 700 Wages accrued 350 2) Adjustments Debit Credit Cash Prepaid insurance 700 Medical supplies 1050 Patient Transport Truck Accumulated depreciation-Truck 1000 Accounts payable K.Hull, Capital K.Hull, Withdrawals Revenue from office visits Wages expense 350 Rent expense Advertising expense Supplies expense (1500-450) 1050 Depreciation expense-Truck 1000 Insurance expense 700 Wage payable 350 Totals 3100 3100 Net Income Adjusted Trial Balance Debit Credit Cash 8000 Prepaid insurance 1400 Medical supplies 450 Patient Transport Truck 15000 Accumulated depreciation-Truck 5000 Accounts payable 2670 K.Hull, Capital 16571 K.Hull, Withdrawals 1000 Revenue from office visits 8800 Wages expense 3730 Rent expense 550 Advertising expense 511 Supplies expense (1500-450) 1050 Depreciation expense-Truck 1000 Insurance expense 700 Wage payable 350 Totals 33391 33391 Income Statement Debit Credit Cash Prepaid insurance Medical supplies Patient Transport Truck Accumulated depreciation-Truck Accounts payable K.Hull, Capital K.Hull, Withdrawals Revenue from office visits 8800 Wages expense 3730 Rent expense 550 Advertising expense 511 Supplies expense (1500-450) 1050 Depreciation expense-Truck 1000 Insurance expense 700 Wage payable Totals 7541 9150 Net income 1259 8800 8800 Balance Sheet Debit Credit Cash 8000 Prepaid insurance 1400 Medical supplies 450 Patient Transport Truck 15000 Accumulated depreciation-Truck 5000 Accounts payable 2670 K.Hull, Capital 16830 K.Hull, Withdrawals Revenue from office visits Wages expense Rent expense Advertising expense Supplies expense (1500-450) Depreciation expense-Truck Insurance expense Wage payable 350 Totals 24850 24850

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