acct 221 questions 495871
Danielle Manning, D.D.S., opened a dental practice on January 1, 2012. During the first month of operations, the following transactions occurred.
Don't use plagiarized sources. Get Your Custom Essay on
acct 221 questions 495871
For $10/Page 0nly
|
1. |
Performed services for patients who had dental plan insurance. At January 31, $817 of such services was earned but not yet recorded. |
|
|
2. |
Utility expenses incurred but not paid prior to January 31 totaled $636. |
|
|
3. |
Purchased dental equipment on January 1 for $80,000, paying $24,700 in cash and signing a $55,300, 3-year note payable. (a) The equipment depreciates $400 per month. (b) Interest is $553 per month. |
|
|
4. |
Purchased a one-year malpractice insurance policy on January 1 for $24,828. |
|
|
5. |
Purchased $1,628 of dental supplies. On January 31, determined that $477 of supplies were on hand. |
Prepare the adjusting entries on January 31. Account titles are: Accumulated Depreciation Equipment, Depreciation Expense, Service Revenue, Accounts Receivable, Insurance Expense, Interest Expense, Interest Payable, Prepaid Insurance, Supplies, Supplies Expense, Utilities Expense and Accounts Payable.
Selected accounts for Brianna s Salon are presented below. All June 30 postings are from closing entries.
| Salaries and Wages Expense | |||
| 6/10 | 2,711 | 6/30 | 8,443 |
| 6/28 | 5,732 | ||
| Supplies Expense | |||
| 6/12 | 840 | 6/30 | 1,694 |
| 6/24 | 854 | ||
| Service Revenue | |||
| 6/30 | 17,961 | 6/15 | 9,299 |
| 6/24 | 8,662 | ||
| Rent Expense | |||
| 6/1 | 2,743 | 6/30 | 2,743 |
| Owner s Capital | |||
| 6/30 | 2,009 | 6/1 | 11,915 |
| 6/30 | 5,081 | ||
| Bal. | 14,987 | ||
| Owner s Drawings | |||
| 6/13 | 1,165 | 6/30 | 2,009 |
| 6/25 | 844 | ||
Calculator
Our features
We've got everything to become your favourite writing service
Money back guarantee
Your money is safe. Even if we fail to satisfy your expectations, you can always request a refund and get your money back.
Confidentiality
We don’t share your private information with anyone. What happens on our website stays on our website.
Our service is legit
We provide you with a sample paper on the topic you need, and this kind of academic assistance is perfectly legitimate.
Get a plagiarism-free paper
We check every paper with our plagiarism-detection software, so you get a unique paper written for your particular purposes.
We can help with urgent tasks
Need a paper tomorrow? We can write it even while you’re sleeping. Place an order now and get your paper in 8 hours.
Pay a fair price
Our prices depend on urgency. If you want a cheap essay, place your order in advance. Our prices start from $11 per page.