5 The following transactions were taken from the documents of Dr. Roddick H. Braddock, proprietor of a newly organized BRADDOCK MEDICAL CLINIC in the month of April, 2020. Date TRANSACTION Apr. 1 Dr. Braddock made the following initial investment to the business: Cash P1,000,000 Medical equipment worth P200,000. It is estimated that these medical equipment will be useful in five years with a scrap value of P2,000 after 5 years. Office furniture worth P50,000, scrap value P500 and desktop computer worth P30,000, no scrap value, both estimated be useful in three years. Paid business permit to the National and local government amounting to P10,000. 2 Paid Medical Center Building Management P180,000 for two years advance rent of the clinic and office space. Dr. Braddock use asset method in recording advance payment transaction. 3 Dr. Braddock purchased on account additional office furniture and fixtures amounting to P30,000. It is estimated that these will be useful in 5 years with no scrap value. Dr. Braddock signed a P100,000 contract with a building contractor for office and clinic renovation, paying 30% down payment and the balance upon completion of the project. This transaction will be recorded as Clinic Improvement and will be shown in the balance sheet under non-current asset. 6 Paid fire insurance premium for one year amounting to P12,000. Record this transaction using expense method. 8 Purchased medical supplies P8,000 and office supplies P2,000 for cash. Paid P2,500 for a one day seminar on the latest health insurance policy. 10 Billed a patient for Surgical procedure rendered amounting to P15,000. 15 Consultation Revenue collected during the week P48,000. Paid salary of employees for the first half of the month P20,000. 18 Collected full payment from a patient for surgical procedure conducted on Apr. 10. 22 Consultation Revenue collected during the week Apr, 16-22, PS2,000. 23 Paid electric and water bills for the month P5,340. 25 Collected from the Hospital P12,000 representing medical fee for medical services rendered to during the month. 28 Consultation Revenue collected during the week Apr. 23-28, P45,000. Received bill from the Medical Center for janitorial services during the month P7,500. Miscellaneous expenses paid in cash during the month amounted to P800. 30 Paid salary of employees for the second half of the month P18,000. Medical and office supplies used during the month amounted to P2,000 and P800 respectively. Dr. Braddock withdrew P100,000 for personal use. 9 29 5 The following transactions were taken from the documents of Dr. Roddick H. Braddock, proprietor of a newly organized BRADDOCK MEDICAL CLINIC in the month of April, 2020. Date TRANSACTION Apr. 1 Dr. Braddock made the following initial investment to the business: Cash P1,000,000 Medical equipment worth P200,000. It is estimated that these medical equipment will be useful in five years with a scrap value of P2,000 after 5 years. Office furniture worth P50,000, scrap value P500 and desktop computer worth P30,000, no scrap value, both estimated be useful in three years. Paid business permit to the National and local government amounting to P10,000. 2 Paid Medical Center Building Management P180,000 for two years advance rent of the clinic and office space. Dr. Braddock use asset method in recording advance payment transaction. 3 Dr. Braddock purchased on account additional office furniture and fixtures amounting to P30,000. It is estimated that these will be useful in 5 years with no scrap value. Dr. Braddock signed a P100,000 contract with a building contractor for office and clinic renovation, paying 30% down payment and the balance upon completion of the project. This transaction will be recorded as Clinic Improvement and will be shown in the balance sheet under non-current asset. 6 Paid fire insurance premium for one year amounting to P12,000. Record this transaction using expense method. 8 Purchased medical supplies P8,000 and office supplies P2,000 for cash. Paid P2,500 for a one day seminar on the latest health insurance policy. 10 Billed a patient for Surgical procedure rendered amounting to P15,000. 15 Consultation Revenue collected during the week P48,000. Paid salary of employees for the first half of the month P20,000. 18 Collected full payment from a patient for surgical procedure conducted on Apr. 10. 22 Consultation Revenue collected during the week Apr, 16-22, PS2,000. 23 Paid electric and water bills for the month P5,340. 25 Collected from the Hospital P12,000 representing medical fee for medical services rendered to during the month. 28 Consultation Revenue collected during the week Apr. 23-28, P45,000. Received bill from the Medical Center for janitorial services during the month P7,500. Miscellaneous expenses paid in cash during the month amounted to P800. 30 Paid salary of employees for the second half of the month P18,000. Medical and office supplies used during the month amounted to P2,000 and P800 respectively. Dr. Braddock withdrew P100,000 for personal use. 9 29 Requirements: 1. Prepare a CHART OF ACCOUNTS based on the transactions indicated above. 2. Using the chart of accounts in requirement no. 1, journalize the transactions during the month in a two column General Journal. 3. Open the General Ledger accounts (T-Account), then post the transactions and determine the balance of each account at the end of the month. 4. Prepare the unadjusted trial balance in good form