Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2 8 2 5 Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2020.

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
2 8 2 5 Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2020. The annual reporting period ends December 31 The trial balance on January 1, 2021 was as follows the amounts a rounded to thousands of dollars to simplify): Account Titles Debit Credit Cash $ 7 Accounts Receivable Supplies Equipment Accumulated Depreciation 52 Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Taxes Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Depreciation Expense Amortization Expense Salaries and wages Expense Supplies Expense Interest Expense Income Tax Expense Total 5. 5.27 15 02.18.07 a Borrowed $20 cash on July 1, 2021. signing a six-month note payable. b. Purchased equipment for $23 cash on July 2, 2021. c Issued additional shares of common stock for $5 on July 3. d. Purchased software on July 4, $3 cash. e Purchased supplies on July 5 on account for future use. $7 Recorded revenues on December 6 of $53, including $8 on credit and $45 received in cash, g Recognized salaries and wages expense on December 7 of $28; paid in cash h. Collected accounts receivable on December 8. $9. Paid accounts payable on December 9, $10. Received a $3 cash deposit on December 10 from a hospital for a contract to start January 5, 2022 foook Terences Data for adjusting Joumal entries on December 31 k Amortization for 2021. $2 / Supplies of $3 were counted on December 31, 2021 m. Depreciation for 2021, $4 n Accrued interest of $1 on notes payable o Salaries and wages incurred but not yet paid or recorded $4 p. Income tax expense for 2021 was $4 and will be paid in 2022 Journal entry worksheet 1 6 7 8 9 10 17 ... ... 51 Received a $3 cash deposit on December 10 from a hospital for a contract to start January 5, 2022. Record the transaction. Note: Enter debits before credits. General Journal Debit Credit es Date December 10 2021 Journal entry worksheet

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Using QuickBooks Online For Accounting 2021

Authors: Glenn Owen

4th Edition

0357442164, 9780357442166

More Books

Students also viewed these Accounting questions

Question

5.2 Summarize the environment of recruitment.

Answered: 1 week ago