Scribd Logo
Importer

Bienvenue sur Scribd !

  • Accounting

    Transféré par

    Bianca Jane Maaliw
    28K vues15 pages
    The document is a general journal for Dr. Nick Marasigan's medical practice for the month of October 2010. It records various transactions including acquiring assets on credit, receiving cash from services, paying expenses, recording depreciation and accruals, withdrawing capital, and closing revenue and expense accounts to the income summary account. The income statement shows a net income of $220,333.33 which is closed to Dr. Marasigan's capital account, and the balance sheet lists total assets of $2,986,333.33 and total liabilities and equity of the same amount.

    Description originale:

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Formats disponibles

    XLSX, PDF, TXT ou lisez en ligne sur Scribd

    Avez-vous trouvé ce document utile ?

    Ce contenu est-il inapproprié ?

    Signaler ce document
    The document is a general journal for Dr. Nick Marasigan's medical practice for the month of October 2010. It records various transactions including acquiring assets on credit, receiving cash from services, paying expenses, recording depreciation and accruals, withdrawing capital, and closing revenue and expense accounts to the income summary account. The income statement shows a net income of $220,333.33 which is closed to Dr. Marasigan's capital account, and the balance sheet lists total assets of $2,986,333.33 and total liabilities and equity of the same amount.

    Droits d'auteur :

    Attribution Non-Commercial (BY-NC)
    Téléchargez comme XLSX, PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    28K vues15 pages

    Accounting

    Transféré par

    Bianca Jane Maaliw
    The document is a general journal for Dr. Nick Marasigan's medical practice for the month of October 2010. It records various transactions including acquiring assets on credit, receiving cash from services, paying expenses, recording depreciation and accruals, withdrawing capital, and closing revenue and expense accounts to the income summary account. The income statement shows a net income of $220,333.33 which is closed to Dr. Marasigan's capital account, and the balance sheet lists total assets of $2,986,333.33 and total liabilities and equity of the same amount.

    Droits d'auteur :

    Attribution Non-Commercial (BY-NC)
    Téléchargez comme XLSX, PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 15

    General Journal

    Date
    2010
    Oct.
    1

    P.R.

    Debit

    Cash
    Marasigan, Capital
    Invstment.

    110
    310

    250,000.00

    Medical Building
    Land
    Cash
    20% Notes Payable
    Acquired medical building and land on account.

    160
    150
    110
    220

    1,000,000.00
    250,000.00

    Medical Equipment
    Medical Supplies
    Cash
    24% Notes Payable
    Acquired medical equipment and medical supplies on account.

    170
    130
    110
    210

    420,000.00
    39,000.00

    Prepaid Insurance
    Cash
    Acquired insurance for a year.

    140
    110

    20,000.00

    Cash
    Medical Revenues
    Received cash for services rendered.

    110
    410

    117,000.00

    Medical Supplies
    Accounts Payable
    Acquired medical supplies on account.

    130
    230

    17,000.00

    10 Salaries Expence
    Cash
    Paid salaries expense.

    510
    110

    73,000.00

    12 Cash
    Unearned Research Revenues
    Received cash for services to be conducted in the future.

    110
    260

    90,000.00

    18 Accounts Receivable
    Medical Revenues
    Billed patients for services rendered.

    120
    410

    317,000.00

    21 Repairs Expense
    Cash
    Paid repairs expense.

    530
    110

    23,000.00

    23 Telephone Expense
    Cash
    Paid telephone bill.

    560
    110

    3,000.00

    24 Medical Equipment
    Accounts Payable
    Acquired medical equipment on account.

    170
    230

    45,000.00

    Credit

    250,000.00

    50,000.00
    1,200,000.00

    59,000.00
    400,000.00

    20,000.00

    117,000.00

    17,000.00

    73,000.00

    90,000.00

    317,000.00

    23,000.00

    3,000.00

    45,000.00

    General Journal
    Date
    Account Titles and Explanation
    2010
    Oct.
    25 Cash
    Accounts Receivable
    Collection of accounts receivable.

    P.R.

    Debit

    110
    120

    113,000.00

    27 Accounts Payable
    Cash
    Payment of liabilities.

    230
    110

    13,000.00

    30 Marasigan, Withdrawals
    Cash
    Withdrawal.

    320
    110

    200,000.00

    30 Association Dues Expense


    Cash
    Paid association dues expense.

    550
    110

    15,000.00

    30 Insurance Expense
    Prepaid Insurance
    Insurance for one month has expired.

    520
    140

    1,666.67

    30 Supplies Expense
    Medical Supplies
    Expired medical supplies.

    540
    130

    35,000.00

    30 Depreciation Expense-Medical Building


    Accumulated Depreciation-Medical Building
    Depreciation of medical building.

    570
    165

    5,000.00

    30 Depreciation Expense-Medical Equipment


    Accumulated Depreciation-Medical Equipment
    Depreciation of medical equipment.

    580
    175

    9,000.00

    30 Unearned Research Revenues


    Research Revenues
    Unearned Revenue.

    260
    420

    30,000.00

    30 Salaries Expense
    Salaries Payable
    Accrued salaries.

    510
    240

    51,000.00

    30 Interest Expense
    Interest Payable
    Accrued interest.

    590
    250

    28,000.00

    30 Medical Revenues
    Research Revenues
    Income Summary

    410
    420
    330

    434,000.00
    30,000.00

    Credit

    113,000.00

    13,000.00

    200,000.00

    15,000.00

    1,666.67

    35,000.00

    5,000.00

    9,000.00

    30,000.00

    51,000.00

    28,000.00

    464,000.00

    General Journal
    Date
    Account Titles and Explanation
    2010
    Oct.
    30 Income Summary
    Salaries Expense
    Insurance Expense
    Repairs Expense
    Supplies Expense
    Association Dues Expense
    Telephone Expense
    Depreciation Expense-Medical Building
    Depreciation Expense-Medical Equipment
    Interest Expense

    P.R.

    Debit

    330
    510
    520
    530
    540
    550
    560
    570
    580
    590

    243,666.67

    30 Income Summary
    Marasigan, Capital

    330
    310

    220,333.33

    30 Marasigan, Capital
    Marasigan, Withdrawals

    310
    320

    200,000.00

    Credit

    124,000.00
    1,666.67
    23,000.00
    35,000.00
    15,000.00
    3,000.00
    5,000.00
    9,000.00
    28,000.00

    220,333.33

    200,000.00

    General Ledger
    Account: Cash
    Date
    2010
    Oct.
    1
    4
    12
    25

    Explanation

    F
    J-1
    J-1
    J-1
    J-2

    Account: Medical Supplies


    Date
    Explanation
    2010
    Oct.
    1
    7

    F
    J-1

    F
    J-1
    J-1

    Balance

    Account: Prepaid Insurance


    Date
    Explanation
    2010
    Oct.
    2
    Balance
    Beg. Balance

    250,000.00
    117,000.00
    90,000.00
    113,000.00

    Date
    2010
    0ct.
    1
    1
    2
    10
    21
    23
    27
    30
    30

    Account No. 110


    Explanation
    F
    Credit
    J-1
    J-1
    J-1
    J-1
    J-1
    J-1
    J-2
    J-2
    J-2

    570,000.00
    114,000.00

    Balance

    Account: Accounts Receivable


    Date
    Explanation
    2010
    Oct.
    18
    Balance

    Debit

    F
    J-1

    Debit
    317,000.00
    204,000.00

    Debit
    39,000.00
    17,000.00
    56,000.00
    56,000.00

    Debit
    20,000.00
    20,000.00
    20,000.00
    18,333.33

    Date
    2010
    Oct.
    25

    Date

    2010
    Oct.

    J-2

    Account No. 130


    Explanation
    F

    Date

    2010
    Oct.

    Account No. 120


    Explanation
    F

    30

    J-2

    Account No. 140


    Explanation
    F

    30 Adjustment

    J-2

    50,000.00
    59,000.00
    20,000.00
    73,000.00
    23,000.00
    3,000.00
    13,000.00
    200,000.00
    15,000.00
    456,000.00

    Credit
    113,000.00

    Credit

    35,000.00

    Credit

    1,666.67

    General Ledger
    Account: Land
    Date
    2010
    Oct.
    1

    Explanation

    F
    J-1

    Balance

    Account: Medical Building


    Date
    Explanation
    2010
    Oct.
    1
    Balance

    F
    J-1

    Debit

    F
    J-1
    J-1

    Balance

    Debit

    Date

    Account No. 160


    Explanation
    F

    Debit

    Account No. 165


    Date
    Explanation
    F
    2010
    Oct.
    30 Adjustment
    J-2
    Balance

    Date

    Account No. 170


    Explanation
    F

    Credit
    5,000.00
    5,000.00

    Credit

    420,000.00
    45,000.00
    465,000.00
    465,000.00

    Debit

    Account No. 175


    Date
    Explanation
    F
    2010
    Oct.
    30 Adjustment
    J-2
    Balance

    Date
    2010
    Oct.
    1

    Account No. 210


    Explanation
    F
    J-1
    Balance

    Account: 20% Notes Payable


    Date
    Explanation

    Credit

    1,000,000.00
    1,000,000.00

    Account: Accumulated Depreciation-Medical Equipment


    Date
    Explanation
    F
    Debit

    Account: 24% Notes Payable


    Date
    Explanation

    Account No. 150


    Explanation
    F
    Credit

    250,000.00
    250,000.00

    Account: Accumulated Depreciation-Medical Building


    Date
    Explanation
    F
    Debit

    Account: Medical Equipment


    Date
    Explanation
    2010
    Oct.
    1
    24

    Date

    Debit

    Date
    2010
    Oct.
    1

    Account No. 220


    Explanation
    F
    J-1
    Balance

    Credit
    9,000.00
    9,000.00

    Credit
    400,000.00
    400,000.00

    Credit
    1,200,000.00
    1,200,000.00

    General Ledger
    Account: Accounts Payable
    Date
    Explanation
    2010
    Oct.
    27

    F
    J-2

    Debit
    13,000.00

    Date
    2010
    Oct.
    7
    24

    Account No. 230


    Explanation
    F
    J-1
    J-1

    13,000.00
    Balance

    Account: Salaries Payable


    Date
    Explanation

    Account: Interest Payable


    Date
    Explanation

    Account: Unearned Research Revenues


    Date
    Explanation
    F

    2010
    Oct.

    30 Adjustment

    Account: Marasigan, Capital


    Date
    Explanation

    2010
    Oct.

    30 Closing

    J-2

    J-3

    Debit

    Debit

    Debit

    Account No. 240


    Explanation
    F

    Date
    2010
    Oct.
    30 Adjustment
    Balance

    Account No. 250


    Date
    Explanation
    F
    2010
    Oct.
    30 Adjustment
    J-2
    Balance

    Date
    2010
    Oct.
    12

    Account No. 260


    Explanation
    F
    J-1
    Balance
    Beg. Balance

    30,000.00

    Debit

    J-2

    Date
    2010
    Oct.
    1

    Account No. 310


    Explanation
    F
    J-1

    Balance
    Beg. Balance
    30 Closing

    200,000.00

    J-3

    200,000.00

    Account: Marasigan, Withdrawals


    Date
    Explanation
    2010
    Oct.
    30
    Balance
    Beg. Balance

    F
    J-2

    Debit
    200,000.00
    200,000.00
    200,000.00
    -

    Date

    2010
    Oct.

    Account No. 320


    Explanation
    F

    30 Closing

    J-3

    Credit
    17,000.00
    45,000.00
    62,000.00
    49,000.00

    Credit
    51,000.00
    51,000.00

    Credit
    28,000.00
    28,000.00

    Credit
    90,000.00
    90,000.00
    90,000.00
    60,000.00

    Credit
    250,000.00
    250,000.00
    250,000.00
    220,333.33
    470,333.33
    270,333.33

    Credit

    200,000.00

    General Ledger
    Account: Income Summary
    Date
    Explanation
    2010
    Oct.
    30 Closing
    30 Closing

    Account: Medical Revenues


    Date
    Explanation

    2010
    Oct.

    F
    J-3
    J-3

    30 Closing

    J-2

    Account: Research Revenues


    Date
    Explanation

    2010
    Oct.

    30 Closing

    Account: Salaries Expense


    Date
    Explanation
    2010
    Oct.
    10
    Balance
    Beg. Balance
    30 Adjustment

    Account: Insurance Expense


    Date
    Explanation
    2010
    Oct.
    30 Adjustment

    Account: Repairs Expense


    Date
    Explanation
    2010
    Oct.
    21
    Balance
    Beg. Balance

    J-2

    F
    J-1

    J-2

    F
    J-2

    F
    J-1

    Debit
    243,666.67
    220,333.33
    464,000.00
    -

    Debit

    Account No. 330


    Date
    Explanation
    F
    2010
    Oct.
    30 Closing
    J-2

    Date
    2010
    Oct.
    4
    18

    73,000.00
    73,000.00
    73,000.00
    51,000.00
    124,000.00
    Debit
    1,666.67
    -

    Debit
    23,000.00
    23,000.00
    23,000.00
    -

    Account No. 410


    Explanation
    F
    J-1
    J-1
    Balance
    Beg. Balance

    Date
    2010
    Oct.
    30

    Account No. 420


    Explanation
    F
    J-2
    Balance
    Beg. Balance

    30,000.00

    Debit

    464,000.00
    464,000.00

    434,000.00

    Debit

    Credit

    Date

    2010
    Oct.

    Account No. 510


    Explanation
    F

    30 Closing

    J-3

    Credit
    117,000.00
    317,000.00
    434,000.00
    434,000.00
    434,000.00
    -

    Credit
    30,000.00
    30,000.00
    30,000.00
    -

    Credit

    124,000.00
    124,000.00

    Account No. 520


    Date
    Explanation
    F
    2010
    Oct.
    30 Closing
    J-3

    Date

    2010
    Oct.

    Account No. 530


    Explanation
    F

    30 Closing

    J-3

    Credit
    1,666.67

    Credit

    23,000.00

    General Ledger
    Account: Supplies Expense
    Date
    Explanation
    2010
    Oct.
    30 Adjustment

    Account: Association Dues Expense


    Date
    Explanation
    2010
    Oct.
    30
    Balance
    Beg. Balance

    Account: Telephone Expense


    Date
    Explanation
    2010
    Oct.
    23
    Balance
    Beg. Balance

    F
    J-2

    F
    J-2

    F
    J-1

    Account: Depreciation Expense-Building


    Date
    Explanation
    F
    2010
    Oct.
    30 Adjustment
    J-2

    Account: Depreciation Expense-Equipment


    Date
    Explanation
    F
    2010
    Oct.
    30 Adjustment
    J-2

    Account: Interest Expense


    Date
    Explanation
    2010
    Oct.
    30 Adjustment

    F
    J-2

    Debit
    35,000.00
    -

    Debit
    15,000.00
    15,000.00
    15,000.00
    -

    Debit
    3,000.00
    3,000.00
    3,000.00
    -

    Debit
    5,000.00
    -

    Debit
    9,000.00
    -

    Debit
    28,000.00
    -

    Account No. 540


    Date
    Explanation
    F
    2010
    Oct.
    30 Closing
    J-3

    Date

    2010
    Oct.

    Date

    2010
    Oct.

    Account No. 550


    Explanation
    F

    30 Closing

    J-3

    Account No. 560


    Explanation
    F

    30 Closing

    J-3

    Account No. 570


    Date
    Explanation
    F
    2010
    Oct.
    30 Closing
    J-3

    Account No. 580


    Explanation
    F

    Date
    2010
    Oct.
    30 Closing

    J-3

    Account No. 590


    Date
    Explanation
    F
    2010
    Oct.
    30 Closing
    J-3

    Credit
    35,000.00

    Credit

    15,000.00

    Credit

    3,000.00

    Credit
    5,000.00

    Credit
    9,000.00

    Credit
    28,000.00

    Dr. Nick Marasigan, M.D.


    Worksheet
    For the Month Ended October 30, 2010
    Trial Balance
    No.

    Account Title

    Debit

    Adjustments

    Credit

    Debit

    Adjusted Trial Balance


    Credit

    Debit

    Credit

    Income Statement
    Debit

    Credit

    Balance Sheet
    Debit

    110 Cash

    114,000.00

    114,000.00

    114,000.00

    120 Accounts Receivable

    204,000.00

    204,000.00

    204,000.00
    21,000.00

    130 Medical Supplies

    56,000.00

    b.

    35,000.00

    21,000.00

    140 Prepaid Insurance

    20,000.00

    a.

    1,666.67

    18,333.33

    18,333.33

    250,000.00

    250,000.00

    150 Land
    160 Medical Building

    250,000.00
    1,000,000.00

    1,000,000.00

    165 Accumulated Depreciation-Med. Building


    170 Medical Equipment

    c.

    5,000.00

    c.

    9,000.00

    465,000.00

    1,000,000.00
    5,000.00

    465,000.00

    175 Accumulated Depreciation-Med. Equipment

    465,000.00
    9,000.00

    210 24% Notes Payable

    400,000.00

    400,000.00

    220 20% Notes Payable

    1,200,000.00

    1,200,000.00

    230 Accounts Payable

    49,000.00

    49,000.00

    240 Salaries Payable

    e.

    51,000.00

    51,000.00

    250 Interest Payable

    f.

    28,000.00

    28,000.00

    260 Unearned Research Revenues

    90,000.00

    310 Marasigan, Capital


    320 Marasigan, Withdrawals

    d.

    30,000.00

    250,000.00

    200,000.00

    410 Medical Revenues

    200,000.00
    434,000.00
    d.

    73,000.00

    520 Insurance Expense


    530 Repairs Expense
    550 Association Dues Expense
    560 Telephone Expense

    e.

    51,000.00

    a.

    1,666.67

    30,000.00

    b.

    35,000.00

    434,000.00

    30,000.00
    124,000.00

    23,000.00

    540 Supplies Expense

    200,000.00
    434,000.00

    420 Research Revenues


    510 Salaries Expense

    60,000.00

    250,000.00

    30,000.00
    124,000.00

    1,666.67

    1,666.67

    23,000.00

    23,000.00

    35,000.00

    35,000.00

    15,000.00

    15,000.00

    15,000.00

    3,000.00

    3,000.00

    3,000.00
    5,000.00

    570 Depreciation Expense-Medical Building

    c.

    5,000.00

    5,000.00

    580 Depreciation Expense-Medical Equipment

    c.

    9,000.00

    9,000.00

    9,000.00

    590 Interest Expense

    f.

    28,000.00
    159,666.67

    28,000.00
    2,516,000.00

    28,000.00
    243,666.67

    464,000.00

    2,272,333.33

    220,333.33
    464,000.00

    464,000.00

    2,272,333.33

    2,423,000.00
    Profit

    2,423,000.00

    159,666.67

    2,516,000.00

    Dr. Nick Marasigan, M.D.


    Worksheet
    For the Month Ended October 30, 2010
    Balance Sheet
    Credit

    5,000.00
    9,000.00
    400,000.00
    1,200,000.00
    49,000.00
    51,000.00
    28,000.00
    60,000.00
    250,000.00

    2,052,000.00
    220,333.33
    2,272,333.33

    Dr. Nick Marasigan, M.D.


    Income Statement
    For the Month Ended October 30, 2010
    Revenues
    Medical Revenues
    Research Revenues
    Total

    P434,000.00
    30,000.00

    Expenses
    Salaries Expense
    Supplies Expense
    Interest Expense
    Repairs Expense
    Association Dues Expense
    Depreciation Expense-Medical Equipment
    Depreciation Expense-Medical Building
    Telephone Expense
    Insurance Expense
    Total

    P124,000.00
    35,000.00
    28,000.00
    23,000.00
    15,000.00
    9,000.00
    5,000.00
    3,000.00
    1,666.67

    Profit

    P464,000.00

    243,666.67
    P220,333.33

    Dr. Nick Marasigan, M.D.


    Statement of Changes in Equity
    For the Month Ended October 30, 2010
    Marasigan, Owner's Equity, 10/1/2010
    Add: Additional Investment by Marasigan
    Profit
    Total
    Less: Withdrawals
    Marasigan, Owner's Equity, 10/30/2010

    P250,000.00
    P

    0
    220,333.33

    220,333.33
    P470,333.33
    200,000.00
    P270,333.33

    Dr. Nick Marasigan, M.D.


    Balance Sheet
    October 30, 2010
    Assets
    Current Assets
    Cash
    Accounts Receivable
    Medical Supplies
    Prepaid Insurance
    Total Current Assets
    Property and Equipment (Net)
    Land
    Medical Building
    Less: Accumulated Depreciation
    Medical Equipment
    Less: Accumulated Depreciation
    Total Assets

    P114,000.00
    204,000.00
    21,000.00
    18,333.33
    P357,333.33
    250,000.00
    1,000,000.00
    5,000.00
    465,000.00
    9,000.00

    P995,000.00
    456,000.00

    1,701,000.00
    P2,058,333.33

    Liabilities
    Current Liabilities
    24% Notes Payable
    20% Notes Payable
    Accounts Payable
    Salaries Payable
    Interest Payable
    Unearned Research Revenues
    Total Current Liabilities

    P 400,000.00
    1,200,000.00
    49,000.00
    51,000.00
    28,000.00
    60,000.00
    P1,788,000.00
    Owner's Equity

    Marasigan, Capital, 10/30/2010


    Total Liabilities and Owner's Equity

    270,333.33
    P2,058,333.33

    Dr. Nick Marasigan, M.D.


    Post-Closing Trial Balance
    October 30, 2010
    Cash
    Accounts Receivable
    Medical Supplies
    Prepaid Insurance
    Land
    Medical Building
    Accumulated Depreciation-Med. Building
    Medical Equipment
    Accumulated Depreciation-Med. Equipment
    24% Notes Payable
    20% Notes Payable
    Accounts Payable
    Salaries Payable
    Interest Payable
    Unearned Research Revenues
    Marasigan, Capital

    P 114,000.00
    204,000.00
    21,000.00
    18,333.33
    250,000.00
    1,000,000.00
    P

    5,000

    465,000.00

    P2,072,333.33

    9,000.00
    400,000.00
    1,200,000.00
    49,000.00
    51,000.00
    28,000.00
    60,000.00
    270,333.33
    P2,072,333.33

    Vous aimerez peut-être aussi