Question
Vincent Yang practices medicine under the business title Vincent Yang, M.D. During July, the medical practice completed the following transactions: LOADING... (Click the icon to
Vincent
Yang
practices medicine under the business title
Vincent Yang, M.D.
During
July,
the medical practice completed the following transactions:
LOADING...
(Click the icon to view the transactions.)
LOADING...
(Click the icon to view the accounts used by the business.) Read the requirements
LOADING...
.
Requirement 1. Journalize each transaction. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.)
July
1:
Yang
contributed
$69,000
cash to the business in exchange for common stock.
| Date | Accounts | Debit | Credit | ||
| Jul. 1 |
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
July
5: Paid monthly rent on medical equipment,
$590.
| Date | Accounts | Debit | Credit | ||
| Jul. 5 |
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
July
9: Paid
$16,000
cash to purchase land to be used in operations.
| Date | Accounts | Debit | Credit | ||
| Jul. 9 |
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
July
10: Purchased office supplies on account,
$1,300.
| Date | Accounts | Debit | Credit | ||
| Jul. 10 |
|
|
| ||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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
Guidelines For Laboratory Quality Auditing
Authors: Donald C. Singer, Ronald P. Upton
1st Edition
0824787846, 978-0824787844
