General journal, Income Statement, and Statement of retained earnings.
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Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, was as follows the amounts are rounded to thousands of dollars to simplify): Debit S Credit 2 2 5 0 Account Titles Cash Account Receivable Supplies Tquipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interent Payable Income Taxes Payable Deferred Revenue Common Stock Tetained Earnings Service Revenue Depreciation Expense Amortization Expense Balaries and Wages Expense Supplies Expense Interest Expense Income Tax Expense Totale 0 0 O 14 O 0 30 30 Transactions during 2018 (summarized in thousands of dollars) Yollow Transactions during 2018 (summarized in thousands of dollars) follow: a. Borrowed $18 cash on July 1, 2018, signing a six-month note payable. b. Purchased equipment for $21 cash on July 2, 2018. c. Issued additional shares of common stock for $4 on July 3. d. Purchased software on July 4, $4 cash. e. Purchased supplies on July 5 on account for future use, $6. f. Recorded revenues on December 6 of $53, Including $10 on credit and $43 received in cash. g. Recognized salaries and wages expense on December 7 of $26; paid in cash. h. Collected accounts receivable on December 8, $7. 1. Paid accounts payable on December 9, $8. J. Received a $4 cash deposit on December 10 from a hospital for a contract to start January 5, 2019. Data for adjusting journal entries on December 31: k. Amortization for 2018, $2. 1. Supplies of $4 were counted on December 31, 2018, m. Depreciation for 2018, $2. 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 2018 was $5 and will be paid in 2019. (Enter all of your answers in thousands of dollars. (.e., $100,000 should be entered as $100).) General General Income Statement of Requirement Journal Trial Balance Retained Balance Sheet Ledger Statement Analysi Earnings Choose the appropriate accounts to be reported on the income statement. Select the adjusted' from the drop then populate the balances in those accounts from the trial balance. Unadjusted NORTHLAND PHYSICAL THERAPY Income Statement For the Year Ended December 31, 2018 (in thousands) Trial Balance Statement of Retained Earnings> General General Requirement Income Statement of Journal Trial Balance Retained Balance Sheet Ledger Statement Analys Earnings Prepare the statement of retained earnings for the year ended December 31, 2018. You will need to determin accounts and balances to prepare the Statement of Retained Earnings. DOWY Unadjusted NORTHLAND PHYSICAL THERAPY Statement of Retained Earnings For the Year Ended December 31, 2018 (in thousands) Balance, January 1, 2018 Balance December 31, 2018 Income Statement Balance Sheet >