week 3 HW

Financial Statements SLO Health Care Inc. is owned and operated by Morgan Denby, the sole stockholder. 1 9 11 During January 2016, San Mateo Health Care entered into the following transactions: Jan. 1 Received $13,500 from Glenn Company as rent for the use of a vacant office in SLO Health Care's building. Glenn paid the rent nin months in advance. Paid $3,000 for a one-year general insurance business policy. 6 Purchased supplies of $900 on account. Collected $16.000 for services provided to customers on account. Paid creditors $2,500 on account Invested an additional $5.000 in the business in exchange for common stock. Billed patients 526,000 for services provided on account. Received 57.500 for services provided to customers who paid cash 30 Paid expenses as follower wages. $15.500 utilities, 54,250 rent on medical equipment $2.550 interest. 100 and miscellaneous 51.500. Paid dividends of $4,000 to stockholder (Dr. Denby). Adjustment data for SLO Health Care Inc. for January are as follows 18 20 25 30 1. Insurance expired: 5490. 2. Supplies on hand on January 31. $600. 3. Depreciation on building, 51,150. 4. Unearned rent revenue earned $1,500. 5. Wages owed employees but not paid $1.450 6. Services provided but not billed to patients 52.500 Presented in the integrated financial statement format are after adjustment balances for January Instructions: Prepare an income statement for January SLO HEALTH CARE INC. Income Statement For the Month Ended January 31, 2046 Operating expenses