F9 X fx A E F G H K L M N 0 1 2 3 4 Family Healthcare, PC Income Statement For the Month Ending Sept 30, 2020 5 6 7 Revenue Fees Earned (Sales) 8 Total Revenue Expenses 9 10 11 12 13 14 15 16 17 18 19 20 21 Total Expenses 22 Net Income(Loss) 24 25 26 27 28 29 30 Notes Transactions Income Stmt Stmt of Retained Earnings Balance Sheet + I 112% H13 fx A B D E G H J K L 1 2 3 4 5 6 a. 7 ***First Period of Operations ***Cash Basis ***Corporation owner deposits $10,000 in a bank account in the name of the business(Company) in return for shares of common stock 8 b. Company borrows $250,000 from First Nat'l Bank to finance its operations 9 10 c. 11 Company buys a building for $250,000 12 d. The Company received $15,000 of income for services provided for the month 13 14 e. 22 - Company paid cash dividends of $5,000 to its stockholders (shareholders) 15 16 f. FHC paid the following expenses during September: 17 $1,200 supplies 18 $250 utilities 19 $500 interest expense 20 $350 miscellaneous 21 The company provided services to patients for $7,500 and will bill the patients at a later date; no cash paid 23 24 25 h. The company paid $1,000 for the first months loan payment to First Nat'l Bank 26 27 28 i. Patients from transaction (g) paid their bill of $7,500 29 30 31 32 33 34 35 Notes Transactions Income Stmt Stmt of Retained Earnings Balance Sheet + Yes No Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off? fx o G8 B D H J M N o P Q 2 3 4 5 6 7 Family Healthcare, PC Statement of Retained Earnings For the Month Ending Sept 30, 2020 Retained Earnings Sept 1, 2020 Add: Net Income Less: Dividends Increase in Retained Earnings Retained Earnings Sept 30, 2020 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 Notes Transactions Income Stmt Stmt of Retained Earnings Balance Sheet + - + 100% Yes No Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off? G23 fx o E B F G H I J L M N 0 P 1 2 3 4 Family Healthcare, PC Balance Sheet As of Sept 30, 2020 5 6 7 Assets 8 9 10 11 12 13 Total Assets Liabilities 14 15 16 17 18 19 20 21 22 23 24 Total Liablities Owner's Equity Capital Stock Retained Earnings 25 Total Owner's Equity Total Liabilities & Owner's Equity check figure 26 27 28 29 30 31 32 33 34 Notes Transactions Income Stmt Stmt of Retained Earnings Balance Sheet + I + 100%