San Mateo Health Care Inc is owned and operated by Rachel Fields, the sole stockholder During January 20Y6, San Mateo Health Care entered into the following transactions Jan 1 Received $27,000 from Hillard Company as rent for the use of a vacant office in San Mateo Health Care's building Hillard paid the rent nine months in advance 1 Paid $6,000 for a one year general insurance business policy 6 Purchased supplies of $1,800 on account 9 Collected $32,000 for services provided to customers on account 11 Paid creditors $5,000 on account 18 Invested an additional $10,000 in the business in exchange for common stock 20 Billed patients $52,000 for services provided on account 25 Received $15,000 for services provided to customers who paid cash 30 Paid expenses as follows wages, $31,000 utilities, $8,500 rent on medical equipment, $5,300 interest, $200 and miscellaneous, $3,000 30 Paid dividends of $8,000 to stockholder (Dr Fields) Adjustment data for San Mateo Health Care Inc for January are as follows Insurance expired, $900 Supplies on hand on January 31, $1,200 Depreciation on building, $2,300 Unearned rent revenue earned, $3,000 Wages owed employees but not paid, $2,900 Services provided but not billed to patients, $5,000 Presented in the integrated financial statement format are after adjustment balances for January Instructions Prepare an income statement for January Choose One Accounts payable Fees earned Prepaid insurance Rent revenue Retained earnings $ Operating expenses Accounts payable Fees earned Prepaid insurance Retained earnings Wages expense $ Accounts payable Fees earned Land Rent revenue Utilities expense Cash Fees earned Prepaid insurance Rent expense Rent revenue Accounts payable Accumulated depreciation Building Depreciation expense Fees earned Accounts payable Accounts receivable Prepaid insurance Supplies Supplies expense Fees earned Insurance expense Prepaid insurance Rent revenue Wages payable Capital stock Interest expense Land Prepaid insurance Rent revenue Accounts receivable Accounts payable Fees earned Miscellaneous expense Notes payable Total operating expenses Choose One Operating income Operating loss $ Other income Insurance expense Interest expense Miscellaneous expense Rent expense Rent revenue Choose One Net income Net loss $ Prepare a statement of stockholders' equity for January For those boxes in which no entry is required, leave the box blank Common Stock Retained Earnings Total Choose One Bal Jan 1 Bal Jan 31 Dividends Net income Net loss $ $ $ Bal Jan 1 Bal Jan 31 Issued common stock Net income Net loss Bal Jan 1 Bal Jan 31 Dividends Net income Net loss Bal Jan 1 Bal Jan 31 Dividends Net income Net loss Bal Jan 1 Bal Jan 31 Dividends Net income Net loss $ $ $ Prepare a classified balance sheet for January The note payable is due in ten years Assets Current assets Choose One Cash Common stock Fees earned Rental revenue Retained earnings $ Accounts payable Accounts receivable Accumulated depreciation Land Notes payable (due in ten years) Accounts payable Insurance expense Prepaid insurance Unearned rent Wages payable Building Common stock Notes payable (due in ten years) Supplies Supplies expense Total current assets $ Property, plant, and equipment Accounts payable Accounts receivable Building Cash Common stock $ Less depreciation expense Less accumulated depreciation Plus accumulated depreciation Plus cash Plus notes payable (due in ten years) $ Accounts payable Common stock Interest expense Land Notes payable (due in ten years) Total property, plant, and equipment Total assets $ Liabilities Current liabilities Accounts payable Accounts receivable Building Common stock Notes payable (due in ten years) $ Prepaid insurance Rental revenue Retained earnings Supplies Unearned rent Land Prepaid insurance Supplies Wages expense Wages payable Total current liabilities $ Long term liabilities Accumulated depreciation Cash Land Notes payable (due in ten years) Prepaid insurance Total liabilities $ Stockholders' Equity Accounts payable Accounts receivable Building Common stock Land $ Prepaid insurance Retained earnings Supplies Unearned rent Wages payable Total stockholders' equity Total liabilities and stockholders' equity $

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San Mateo Health Care Inc. is owned and operated by Rachel Fields, the sole stockholder. During January 20Y6, San Mateo Health Care entered into the

San Mateo Health Care Inc. is owned and operated by Rachel Fields, the sole stockholder.

During January 20Y6, San Mateo Health Care entered into the following transactions:

Jan. 1		Received $27,000 from Hillard Company as rent for the use of a vacant office in San Mateo Health Care's building. Hillard paid the rent nine months in advance.
1		Paid $6,000 for a one-year general insurance business policy.
6		Purchased supplies of $1,800 on account.
9		Collected $32,000 for services provided to customers on account.
11		Paid creditors $5,000 on account.
18		Invested an additional $10,000 in the business in exchange for common stock.
20		Billed patients $52,000 for services provided on account.
25		Received $15,000 for services provided to customers who paid cash.
30		Paid expenses as follows: wages, $31,000; utilities, $8,500; rent on medical equipment, $5,300; interest, $200; and miscellaneous, $3,000.
30		Paid dividends of $8,000 to stockholder (Dr. Fields).

Adjustment data for San Mateo Health Care Inc. for January are as follows:

Insurance expired, $900.
Supplies on hand on January 31, $1,200.
Depreciation on building, $2,300.
Unearned rent revenue earned, $3,000.
Wages owed employees but not paid, $2,900.
Services provided but not billed to patients, $5,000.

Presented in the integrated financial statement format are after-adjustment balances for January.

Instructions:

Prepare an income statement for January.

Choose One: Accounts payable Fees earned Prepaid insurance Rent revenue Retained earnings		$-
Operating expenses:
Accounts payable Fees earned Prepaid insurance Retained earnings Wages expense	$-
Accounts payable Fees earned Land Rent revenue Utilities expense	-
Cash Fees earned Prepaid insurance Rent expense Rent revenue	-
Accounts payable Accumulated depreciation Building Depreciation expense Fees earned	-
Accounts payable Accounts receivable Prepaid insurance Supplies Supplies expense	-
Fees earned Insurance expense Prepaid insurance Rent revenue Wages payable	-
Capital stock Interest expense Land Prepaid insurance Rent revenue	-
Accounts receivable Accounts payable Fees earned Miscellaneous expense Notes payable	-
Total operating expenses		-
Choose One: Operating income Operating loss		$-
Other income:
Insurance expense Interest expense Miscellaneous expense Rent expense Rent revenue		-
Choose One: Net income Net loss		$-

Prepare a statement of stockholders' equity for January. For those boxes in which no entry is required, leave the box blank.

	Common Stock	Retained Earnings	Total
Choose One: Bal. Jan. 1 Bal. Jan. 31 Dividends Net income Net loss	$ -	$ -	$ -
Bal. Jan. 1 Bal. Jan. 31 Issued common stock Net income Net loss	-	-	-
Bal. Jan. 1 Bal. Jan. 31 Dividends Net income Net loss	-	-	-
Bal. Jan. 1 Bal. Jan. 31 Dividends Net income Net loss	-	-	-
Bal. Jan. 1 Bal. Jan. 31 Dividends Net income Net loss	$ -	$-	$ -

Prepare a classified balance sheet for January. The note payable is due in ten years.

Assets
Current assets:
Choose One: Cash Common stock Fees earned Rental revenue Retained earnings		$-
Accounts payable Accounts receivable Accumulated depreciation Land Notes payable (due in ten years)		-
Accounts payable Insurance expense Prepaid insurance Unearned rent Wages payable		-
Building Common stock Notes payable (due in ten years) Supplies Supplies expense		-
Total current assets			$-
Property, plant, and equipment:
Accounts payable Accounts receivable Building Cash Common stock	$-
Less depreciation expense Less accumulated depreciation Plus accumulated depreciation Plus cash Plus notes payable (due in ten years)	-	$-
Accounts payable Common stock Interest expense Land Notes payable (due in ten years)		-
Total property, plant, and equipment			-
Total assets			$-
Liabilities
Current liabilities:
Accounts payable Accounts receivable Building Common stock Notes payable (due in ten years)		$-
Prepaid insurance Rental revenue Retained earnings Supplies Unearned rent		-
Land Prepaid insurance Supplies Wages expense Wages payable		-
Total current liabilities			$-
Long-term liabilities:
Accumulated depreciation Cash Land Notes payable (due in ten years) Prepaid insurance			-
Total liabilities			$-
Stockholders' Equity
Accounts payable Accounts receivable Building Common stock Land		$-
Prepaid insurance Retained earnings Supplies Unearned rent Wages payable		-
Total stockholders' equity			-
Total liabilities and stockholders' equity			$-