9:37 AM 12/09/17 Accrual Basis Tiffany Jung, DDS Profit & Loss All Transactions

Question

9:37 AM 12/09/17 Accrual Basis Tiffany Jung, DDS Profit & Loss All Transactions May 9, 17 Ordinary IncomelExpense Income 40000 Revnue from Insurance 41000 Revnue from Patients 42000 Patient Refunds 177.578.40 27,502.90 2,118.50 Total Income 202,962.80 Expense 61000 Dental Supplies 61100 Utility 16,094,42 61110 Electronic 2.372.79 165.79 3,330.15 61120 - Water 61400 Telephone Expense Total 61100 Utility 5.868.73 61200 - Office Supplies 61300 Landscaping and Snow Removal 61500 Taxes, Licences, and Fees 61600 Credit Cards 650.95 1,743.03 5.335.53 61610 Staples Credit Caro 196.50 61620 GM Card 6,925.07 8,321.91 50.00 61630 Discover Card 61640 AT &T; Univ Card Total 61600 Credit Cards 15,493.45 61700 Professional Fees 61800 Labortory Fees 61900 Contractor 62000 Contributions 66000 Payroll Tax Expense 68000 Office Furnishing 69900 Net Wages 11,930.50 85.00 14,192.89 11,261.56 4,224.47 251.75 9,826.94 Total Expense Net Ordinary Income Other IncomelExpense 95,989.25 105,973.55 Other Income 70000 Interest Income Total Other Income Other Expense 14.83 14.83 80000 Bank Service Charges Total Other Expense 127.00 12700 112.17 105,861.38 Net Other Income Net Income Page 1

Explanation / Answer

FORM SCHEDULE C Particulars amount Income revenue from insurance 177578.4 revenue from patient 27502.9 patient refunds -2118.5 interest income 14.83 Total a) 202977.63 Expenses dental supplies 16094.42 electronic 2372.79 telephone 3330.15 water 165.79 office supply 680.95 landscaping and snow removal 1743.03 taxes 5335.53 credit card 15493.48 proffessional fee 11930.5 laboratory fee 85 contractor 14192.89 contribution 11261.56 pay off tax expense 4224.47 office furniture 251.75 wages 9826.94 bank charges 127 Total b) 97116.25 Net income -105861.38

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