Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Old MathJax webview Answer Me within 30 Minutes. part 1: Prepare the necessary adjusting journal entries on April 30 based on the following data: (12)
Old MathJax webview
Answer Me within 30 Minutes. part 1: Prepare the necessary adjusting journal entries on April 30 based on the following data: (12)
Supplies on hand at April 30, $100.
Insurance expired during the month, $150.
Depreciation of equipment during the month, $500.
Wages accrued but not paid at April 30, $400.
Accrued fees earned but not recorded at April 30, $800.
Unearned fees on April 30, $350.
Part 2: Prepare an adjusted trail balance.
4. Prepare the necessary adjusting journal entries on April 30 based on the following data: (12) Supplies on hand at April 30, $100. Insurance expired during the month, $150. Depreciation of equipment during the month, $500. Wages accrued but not paid at April 30, $400. Accrued fees earned but not recorded at April 30, $800. Unearned fees on April 30, $350. 5. Prepare an adjusted trial balance. (5) Case: Dr. Ahmad, organized Hearts Clinic Attock. three years ago to practice cardiology. During April 2021, Hearts Clinic Attock. completed the following transactions: Apr. 1. Paid office rent for April, $1800. 1 3. Purchased equipment on account, $2,800. 5. Received cash on account from patients, $4,500. 8. Purchased X-ray film and other supplies on account, $400. 12. Paid cash to creditors on account, $2,000. 17. Paid cash for renewal of a six-month property insurance policy, $600. 20. Received cash $1,250 in advance (unearned fees) from patients for their medical checkups. 24. Paid cash for laboratory analysis, $150. 27. Paid dividends, $2,000. 30. Recorded the cash received for the check-up fees of services offered to patients during April, $3,200. 30. Paid salaries of receptionist and nurses, $1,500. 30. Paid various utility expenses, $450. 30. Recorded fees charged to patients on account for services performed in April, $7,500. 30. Paid miscellaneous expenses, $100. Hearts Clinic Attock's account titles, numbers, and balances as of April 1 (all normal balances) are listed as follows: Cash 4,123 Accounts Receivable 6,725 Supplies 290 Prepaid Insurance 465 Equipment 19,745 Accounts Payable 765 Accumulated Depreciation: Equipment Unearned Fees 0 Common Stock 10,000 Retained Earnings 20,583 Dividends 0 Wages Payable 0 Salary Expense 0 Check-up Fees Earned 0 Laboratory Expense 0 Rent Expense 0 Miscellaneous Expense 0 Utilities Expense 0 Supplies Expense 0 Insurance Expense 0 Depreciation Expense Wages Expense lo Required: 2
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started