Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

journal entrys for all of them pls 4 4 8 Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland

journal entrys for all of them pls
image text in transcribed
image text in transcribed
4 4 8 Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Pha Therapy, on January 1, 2020. The annual reporting period ends December 31. The trial balance on January 1, 2018 follows the amounts are rounded to thousands of dollars to simplify): Account Titles Debit Credit Cash $8 Accounts Receivable Supplies Equipment Accumulated Depreciation Software Accumulated Amortization 1 Accounts Payable 4 Notes Payable (short-term) Salaries and Wales Payable Interest Payable Income Taxes Payable Deferred Revenue Comon Stock Retained Earnings Service Revenue Depreciation Expense Amortization Expense Salaries and Wages Expense Supplies Expense Interest Expense Income Tax Expense 0 Totals $ 28 $ 28 0 14 Transactions during 2021 (summarized in thousands of dollars) follow: a Borrowed $27 cash on July 1, 2021. signing a six-month note payable. b. Purchased equipment for $30 cash on July 2. 2021 c Issued additional shares of common stock for $4 on July 3 d. Purchased software on July 4, S4 cash a. Borrowed $27 cash on July 1, 2021, signing a six-month note payable, b. Purchased equipment for $30 cash on July 2. 2021. 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 $62. Including $10 on credit and $52 received in cash. g. Recognized salaries and wages expense on December 7 of $35: paid in cash. h. Collected accounts receivable on December 8, $7. Pald 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, 2022: Data for adjusting Journal entries on December 31: k. Amortization for 2021, $1. Supplies of $4 were counted on December 31, 2021 m. Depreciation for 2021, $2. n. Accrued interest of $1 on notes payable. o. Salaries and wages incurred but not yet paid or recorded, $2. p. Income tax expense for 2021 was $5 and will be paid in 2022 Required: 2. Record journal entries for transactions (a) through () (lf no entry is required for a transaction/event, select "No Jour Required" in the first account field. Enter your answers in thousands of dollars.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting A Managerial Emphasis

Authors: Charles T. Horngren, George Foster, Srikant M. Datar

9th Edition

0306457229, 978-0306457227

More Books

Students explore these related Accounting questions