DRA. ALTURA MEDICAL SERVICES

100CASH

101ACCOUNT RECEIVABLES

102LAND

103BUILDING

104MEDICAL EQUIPMENT

105 MEDICAL SUPPLIES

106 OFFICE SUPPLIES

107 PREPAID INSURANCE

201ACCOUNTS PAYABLE

202NOTES PAYABLE

301DRA. ALTURA CAPITAL

302 DRA. ALTURA DRAWING

401SERVICES INCOME

501 SALARIES EXPENSE

502 REPAIRS

503 COMMUNICATION

504TRANSFORMATION

In October 2009, DRA. Milagros altura started her own medical practice in quezon City, presented below are the transactions for the month of operations:

GJ-10

OCTOBER

1Dra, altura invested 1,000,000 in the business.

1Purchased land and building, amounting to 1,000,000 and 2,500,000 perspectively fromBPI Bank Dra. Altura paid 500,000 cash and the balance is payable after one year.

1Bought medical equipment 300,000 on account from Sebastian Corp. By issuing a notesdue in 24 months.

1Dra. Altura bought medical supplies, 50,000

2Additional medical equipment was purchased worth 52,000

2Purchased office supplies, 3,000 cash

3Payment of one year insurance premium for the building 28,000

4Receive 132,000 from clients for medical services rendered.

6Additional medical supplies purchased on account, 42,000

10Salaries of medical staff, 90,000

17Rendered medical services to clients on account 180,000

18 payment for minor repairs on the building, 14,000

20Paid telephone bill, 6,500

22Collected 130,000 from clients on account.

23Made partial payment of, 30,000 for the medical supplies purchased on October 6.

27Personal withdrawals , 100,000

29Paid transactions of staff, 4,800

REQUIRED : PREPARE JOURNAL ENTRIES,

PREPARE THE GENERAL LEDGER AND TRIAL BALANCE, INCOME STATEMENT,STATEMENT OF CHANGES IN OWNERS EQUITY AND STATEMENT OF FINANCIAL POSITION.