Answered step by step
Verified Expert Solution
Question
1 Approved Answer
pls be fast, solve on word only pls Directions: Prepare the journal entries, ledger/t-accounts and trial balance for the transactions below. The Chart of Accounts
pls be fast, solve on word only pls
Directions: Prepare the journal entries, ledger/t-accounts and trial balance for the transactions below. The Chart of Accounts of Albularyo Clinic is as follows: Medical Equipment Cash Notes Payable Clinic Supplies Albularyo, Capital Utility Expense Furnitures and Fixtures Albularyo, Drawing Professional Fees Rent Expense Salary Expense Aug 1 - Juan Albularyo, M.D. invested P150,000 cash in his business. Aug 2 - He paid clinic space rent for the month amounting to 12,000. Aug 5- He bought clinic supplies like thermometer, subscription pad, tongue depressor and others for P16,500. Aug 7 He bought medical equipment from Sta. Cruz Medical Supplies, P150,000, paying P50,000 cash and issued promissory note for the balance. Aug 7 - He bought tables, chairs and other furnitures for his clinic for cash, P55,700. Aug 15 - Paid Sta. Cruz Medical Supplies P40,000 as part payment on amount owed on medical equipment previously bought. Aug 15-Recorded professional fees for cash amounting to P45,800. Aug 26 - Albularyo withdrew cash for personal use, 10,000. Aug 28-Received and paid bill for electricity and water-P5.920. Aug 30-Paid salary of his secretary, 12,000. Aug 31 - Recorded professional fees for cash amounting to P57,000
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