The accounts and account balances for Dr D. Eath Family Medical Practice are shown below on 30
Question:
The accounts and account balances for Dr D. Eath Family Medical Practice are shown below on 30 June 2025.
The following information has not yet been recorded.
1. Rates owing at 30 June, \($17\) 800.
2. Depreciation on the equipment is \($13\) 600. Depreciation on the building is \($35\) 400.
3. An advance fee payment of \($2200\) for minor surgery to be performed in July 2025 was credited to Fees Earned.
4. The mortgage contract provides for a monthly payment of \($3700\) plus accrued interest. The June payment was not made. Interest of \($1000\) is accrued on the mortgage.
5. Prepaid insurance of \($4900\) has expired.
6. Salaries earned but not paid amount to \($8700\).
Required
(a) Prepare a 10-column worksheet for the year ended 30 June 2025.
(b) Prepare an income statement, a statement of changes in equity and a balance sheet.
(c) Journalise the closing entries.
Step by Step Answer:
Accounting
ISBN: 9780730382737
11th Edition
Authors: John Hoggett, John Medlin, Keryn Chalmers, Claire Beattie