Ann Kuhl, M.D., of Canmore, uses the following chart of accounts: The headings of the synoptic journal
Question:
The headings of the synoptic journal are as follows:
Required
a. Journalize the transactions listed below in the synoptic journal.
b. Prove the synoptic journal.
Transcribed Image Text:
Chart of Accounts Assets 111 Alberta Bank 112 Prepaid Insurance 113 Medical Supplies 121 Medical Equipment 122 Revenue 411 Professional Fees Expenses 511 Rent Expense 512 Donation Expense 513 Salaries Expense 514 Medical Supplies Exper 515 Amortization Expense, Accumulated Amortization Medical Equipment 123 Office Furniture 124 Accumulated Amortization, Office Furniture Medical Equipment Office Furniture Automobile 516 Amortization Expense, 125 Auto 126 Accumulated Amortization, Auto 517 Amortization Expense Liabilities 211 Bank Loan Payable 518 Insurance Expense 519 Telephone Expense 610 Cleaning Expense 611 Miscellaneous Expense Owner's Equity 311 A. Kuhl, Capital 312 A. Kuhl, Withdrawals 313 Income Summary Page 1 Medical A. Kuhl, Cleaning Prof. withdrawals || Dr. hq. Fees Cr. No. Dr. Cr. Post. |ーSundry-1 Supplies Expense r. Date Explanation Ref. Dr. Cr Transactions 2012 May Dr. Kuhl deposited $7,000 in the practice. Paid rent for the month to Foster Realty, $900, cheque No. 1. 8 4 Bought medical equipment from Ace Supply Co., $1,500, cheque No. 2 11 Bought medical supplies from Lone Co., $700, cheque No. 3 15 Received payment for patient services, $3,500. 17 Bought additional medical supplies from Lone Co., $1,200, cheque No. 4 11 Bought medical supplies from Lone Co., $700, cheque No. 3. 15 Received payment for patient services, $3,500. 17 Bought additional medical supplies from Lone Co., $1,200 cheque No. 4 18 Dr. Kuhl withdrew $1,625 for personal use, cheque No. 5 21 Paid Al's Janitorial Service, $300, cheque No. 6 22 Received payment for patient services, $1,900. 25 Paid for postage stamps, $40 (miscellaneous expense) 30 30 31 cheque No.7. Paid salaries for month, $2,400, cheque No. 8 Paid Al's Janitorial Service, $400, cheque No. 9. Dr. Kuhl withdrew $400 for personal use, cheque No. 10.
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Related Book For
College Accounting A Practical Approach
ISBN: 978-0132564441
11th Canadian Edition
Authors: Jeffrey Slater, Brian Zwicker
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