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Please help. Question 10 0.9 pts As Sparky's Family Practice, M.D., maintains the accounting records of the clinic on a cash basis. During 20x1, Dr.
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Question 10 0.9 pts As Sparky's Family Practice, M.D., maintains the accounting records of the clinic on a cash basis. During 20x1, Dr. Sparky collected $142,600 from the patients and paid $55,470 in expenses. At January 1, 20x1 and December 31, 20x1, the clinic had the following assets and liabilities. Accounts Receivable Unearned Revenue Accrued Expenses Prepaid Expenses Equipment January 1, 20x1 $9,200 2,800 3,400 1,900 40,000 December 31, 20x1 $15,900 4,100 2,300 3,400 40,000 *For accrual accounting purposes, Sparky uses a straight-line method of depreciation and estimates a 16-year useful life with no salvage value. The equipment was in use for the full year. Based on past experience, Sparky also estimates that 2% of Accounts Receivable will prove to be uncollectible. The balance before adjustment in the Allowance for Doubtful Accounts is a debit balance of $100. Using the above information, answer the next (2) questions: a. Service Revenues (on an accrual basis) $_ Note: do not use $ signs or commas when recording your answer. Question 11 1 pts Using the information presented above, determine Sparky's Total Operating Expenses on an accrual basis: $ (ignore income taxes) Note: enter your answer as a positive number (you do not have to use parenthesis). Do not use $ signs or commas when recording yourStep by Step Solution
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