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Viny Yarwood practises medicine under the business title Vincent Yarwood, GP. During July 2021, the medical practice completed the following transactions: Jul 1 Yarwood contributed
Viny Yarwood practises medicine under the business title Vincent Yarwood, GP. During July 2021, the medical practice completed the following transactions:
Jul 1
Yarwood contributed $78 000 cash as capital to the business.
5
Paid monthly rent on medical equipment, $650.
9
Paid $18 000 cash to purchase land to be used in operations.
10
Purchased office supplies on credit, $3 800.
31
Paid employees salaries $2 000, office rent $1 000, and electricity and gas $550. Record as a compound entry.
31
Yarwood withdrew cash of $8 400.
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