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Dr. Helen Samoa opened a medical practice specializing in physical therapy. During the first month of operation (December), the business, titled Dr. Helen Samoa,

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Dr. Helen Samoa opened a medical practice specializing in physical therapy. During the first month of operation (December), the business, titled Dr. Helen Samoa, Professional Corporation (P.C.), experienced the following events: (Click the icon to view the journal entries.) (Click the icon to view the events.) Read the requirements Requirements Requirement 1. Post the entries to the ledger, using T-accounts. Key transactions by date. Determine the ending balance in each account. (Record transactions from the 15-31 of the month as occurring on the last day of the month.) Calculate the balance for each account and enter it on the appropriate side of each T-account. Dec 6 Cash 150000 Dec 9 64000 Accounts Payable Service Revenue More info - point 30 F Dec 6 He es Samoa invested $150,000 in the business, which in turn issued its common stock to her. Decer Dec 9 The business paid cash for land costing $64,000. Samoa plans to build an office building on the land. Dec 12 d Dec 15 Dec 15-31 The business purchased medical supplies for $2,400 on account. Dr. Helen Samoa, P.C., officially opened for business. During the rest of the month, Samoa treated patients and earned service revenue of $9,800, receiving cash for half the revenue earned. Dec 15-31 The business paid cash expenses: employee salaries, $3,600; office rent, $900; utilities, $400. qui m th baland Dec 31 The business sold medical supplies to another physician for cost of $1,000 and received cash. lcul ec 6 Print Done Revenu Reference Journal Entry Date Accounts and Explanations Dec 6 Cash Dec Dec Common Stock Issued stock to owner. 9 Land Cash: Purchased land. 12 Medical Supplies Accounte Davahla Print Done - ssible ) possibl the busin Debit Credit 150,000 150,000 64,000 64,000 each accou 2,400 2.400 K Reference Accounts Payable Purchased supplies on account. Dec 15 No entry required Dec 31 (a) Cash Accounts Receivable Service Revenue Performed service for cash and on account. Dec 31 (b) Salary Expense Rent Expense Utilities Expense 2,400 4,900 4,900 9,800 3,600 900 400 ssible ) possible the business, titled R S each account. (Recor Reference Cash 4,900 , the busin Paid expenses. Dec 31 (c) Cash 1,000 Medical Supplies 1,000 Sold supplies. Dec 31 (d) Cash 34,000 Note Payable 34,000 Borrowed money. each acc Dec 31 (e) Accounts Payable 1,300 Cash 1,300 Dr. Helen Samoa opened a medical practice specializing in physical therapy. During the first month of operation (December), the business, titled Dr. Helen Samoa, Professional Corporation (P.C.), experienced the following events: (Click the icon to view the journal entries.) (Click the icon to view the events.) Read the requirements. Casn Accounts Payable Dec 6 150000 Dec 9 64000 Dec 15 4900 service revenue Next Accounts Receivable Note Payable Salary Expense Rent Expense Medical Supplies Common Stock Rent Expense Utilities Expense Land Requirement 2. Prepare the trial balance of Dr. Helen Samoa, P.C., at December 31, 2021. Utilities Expense Requirement 2. Prepare the trial balance of Dr. Helen Samoa, P.C., at December 31, 2021. Review the T-accounts prepared in a previous step. Dr. Helen Samoa, P.C. Trial Balance December 31, 2021 Trial Balance December 31, 2021 Account Balance Debit Credit Requirement 3. From the trial balance, determine total assets, total liabilities, and total stockholders' equity on December 31. Total assets Total liabilities Total stockholders' equity

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