West Laboratory adjusts and closes its accounts at the end of each month The trial balance at
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West Laboratory adjusts and closes its accounts at the end of each month The trial balance at September 30, 2015, before adjustments, is as follows.
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Debit $18.200 27,000 5.000 1,200 21,800 Credt Cash Medical Fees Receivable Prepaid Rent Office Supplies Medical Equipment Accumulated Depreciation: Medical Equipment Accounts Payable Notes Payable Uneamed Medical Fees Capital Stock Retained Eamings Dividends Medical Fees Eamed Salanes Expense Utlities Espense Insurance Expense $ 6,000 3.000 8,000 14,000 18,000 16,000 1,000 31,000 14,000 2,000 3,800 $96.000 $96.000 The following information relates to month end adjustments: (a) Office supplies on hand September 30 amounted to $500. (b) The useful life of the medical equipment was estimated to be 20 years. (c) Many patients pay in advance for major medical procedures. Fees of $6,000 were earmed during the month by performing procedures on patients who had paid in advance. (d) Salaries eamed by employees during the month but not vet recorded amounted to $2.300. (c) On September 1, West Laboratory had moved and paid 2 month's rent in advance (O Medical procedures performed during the month but not yet billed or recorded amounted to $4.600 Prepare the adjusting entries required at September 30. Debit $18.200 27,000 5.000 1,200 21,800 Credt Cash Medical Fees Receivable Prepaid Rent Office Supplies Medical Equipment Accumulated Depreciation: Medical Equipment Accounts Payable Notes Payable Uneamed Medical Fees Capital Stock Retained Eamings Dividends Medical Fees Eamed Salanes Expense Utlities Espense Insurance Expense $ 6,000 3.000 8,000 14,000 18,000 16,000 1,000 31,000 14,000 2,000 3,800 $96.000 $96.000 The following information relates to month end adjustments: (a) Office supplies on hand September 30 amounted to $500. (b) The useful life of the medical equipment was estimated to be 20 years. (c) Many patients pay in advance for major medical procedures. Fees of $6,000 were earmed during the month by performing procedures on patients who had paid in advance. (d) Salaries eamed by employees during the month but not vet recorded amounted to $2.300. (c) On September 1, West Laboratory had moved and paid 2 month's rent in advance (O Medical procedures performed during the month but not yet billed or recorded amounted to $4.600 Prepare the adjusting entries required at September 30.
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Related Book For
Accounting Volume 2
ISBN: 978-0176509743
2nd Canadian edition
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
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