Homework #2: Gidwid Medical Unadjusted Trial Balance Gidwid Medical Company began operations on January 1. Gidwid Medical Ce is in the business of providing medical care. The following events transpired during Gidwid Medical's first month of business os EVENT DATE WHAT HAPPENED? (a) 1/1 Sally contributed S100,000 to Gidwid Medical Co. in exchange for 10,000 shares of common stock valued at $10 par values (b) 15 Gidwid Medical Copurchases land for $10,000 and building for $30,001 using cal (c) 117 Gidwid Medical Co purchases supplies for 55.000 from Sammy Medical on account (d) 19 Gilwid Medical Colores a receptionist, who will start working in February. The receptionist will earn an annual salary of $5,000 per month (560000 per year 1/15 Gidwid Medical Coses its first patient Patient A). Before Patient A leaves the office she pays her 5600 medical bill in cash Gidwid Medical Co wees is sooond patient (Patient Patient does not pay in cash, and Gidwid Medical Co gives Patient Babil for $550 Gidwid Medical Copas Samay Medical 5,000 in relation to the supplies it purchased on account on 1/7 1.23 Gidwid Medical Coses its third patient (Patient) atient does it pay in cash, and Gidwid Medical Ce gives Patient for $625 127 Gdwid Medical Co. receives full cash payment in the mail from Patient 1:30 Cidwid Medical Co. Rogives tility hall for $125. Godwid Medical does not plan on paying the ball until some time in February ) Gidwid Medical Ce pays its doctor a monthly salary of 5473 In Part 1 of this homework assignment you will be asked to provide the journal entries for events (a) through (k) above. In Part 2 of the homework assignment you will be required to provide account values (ending balances) which would appear on the financial statements Homework #2: Gidwid Medical Unadjusted Trial Balance Gidwid Medical Company began operations on January 1. Gidwid Medical Ce is in the business of providing medical care. The following events transpired during Gidwid Medical's first month of business os EVENT DATE WHAT HAPPENED? (a) 1/1 Sally contributed S100,000 to Gidwid Medical Co. in exchange for 10,000 shares of common stock valued at $10 par values (b) 15 Gidwid Medical Copurchases land for $10,000 and building for $30,001 using cal (c) 117 Gidwid Medical Co purchases supplies for 55.000 from Sammy Medical on account (d) 19 Gilwid Medical Colores a receptionist, who will start working in February. The receptionist will earn an annual salary of $5,000 per month (560000 per year 1/15 Gidwid Medical Coses its first patient Patient A). Before Patient A leaves the office she pays her 5600 medical bill in cash Gidwid Medical Co wees is sooond patient (Patient Patient does not pay in cash, and Gidwid Medical Co gives Patient Babil for $550 Gidwid Medical Copas Samay Medical 5,000 in relation to the supplies it purchased on account on 1/7 1.23 Gidwid Medical Coses its third patient (Patient) atient does it pay in cash, and Gidwid Medical Ce gives Patient for $625 127 Gdwid Medical Co. receives full cash payment in the mail from Patient 1:30 Cidwid Medical Co. Rogives tility hall for $125. Godwid Medical does not plan on paying the ball until some time in February ) Gidwid Medical Ce pays its doctor a monthly salary of 5473 In Part 1 of this homework assignment you will be asked to provide the journal entries for events (a) through (k) above. In Part 2 of the homework assignment you will be required to provide account values (ending balances) which would appear on the financial statements
