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Name: Justin Ann C. Cabrera
Course: FBSM 1-A
Date: Jan 4, 2022
BME 1 - MU 1
GENERAL JOURNAL
GENERAL JOURNAL
Date 2021 Account Titles Account Nos. Debit Credit Oct. 1 Cash 110 250, Watanabe Capital 310 250, initial cash investment Oct. 1 Medical Building 130 1,000, Land 150 250, Cash 110 50, 20% Notes Payable 220 1,200, Acquired medical and land paid on cash and balance on note payable Oct. 1 Medical Equipment 170 420, Medical Supplies 130 39, Cash 110 59, 24% Notes Payable 210 400, Acquired equipment and supplies paid on cash and balance on note payable Oct. 2 Prepaid Insurance 140 60,000. Cash 110 60, Paid insurance in advance Oct. 4 Cash 110 117, Medical Revenues 410 117, Received cash from patients
Oct. 7 Medical Supplies 130 17, Accounts Payable 230 17, Bought medical supplies on account Oct. 10 Salaries Expense 510 73, Cash 110 73, Paid salaries on cash Oct. 12 Cash 110 90, Unearned Research Revenues 260 90, Received cash in advance for research services Oct. 18 Accounts Receivable 120 317, Medical Revenues 410 317, Billed patients for services rendered Oct. 21 Repairs Expense 530 23, Cash 110 23, Paid repairs expenses Oct. 23 Telephone Expense 560 3, Cash 3, Paid telephone bill Oct.24 Medical Equipment 170 45, Account Payable 230 45, acquired medical equipment on account Oct 25 Cash 110 113, Accounts receivable 120 113, collection of account receivable
Oct 30 Unearned Research Revenue 260 30, Research Revenue 420 30, Unearned revenue Oct 30 Salaries Expense 510 51, Salaries Payable 240 51, Accrued salaries Oct 30 Interest Expense 590 28, Interest Payable 250 28, Accrued Interest Oct 30 Medical Revenue 410 434, Research Revenue 420 30, Income summary 330 464, Oct 30 Income Summary 330 233, Salaries Expense 510 124, Supplies Expense 540 21, Interest Expense 590 28, Repair Expense 530 23, Association Dues Expense 550 15, Depreciation Expense-Medical Equipment
Depreciation Expense-Medical Building
Telephone Expense 560 3, Insurance Expense 520 5,
Oct 30 Income Summary 330 231, Watanabe capital 310 231, Oct 30 Watanabe Capital 310 200, Watanabe withdrawal 320 200,
LEDGER
CASH
Debit Credit 10/1-250, 10/4-117, 10/12-90, 10/30-113,
ACCOUNTS RECEIVABLE
Debit Credit 113,000-10/ MEDICAL SUPPLIES PREPAID INSURANCE Debit Credit Debit Credit
UNEARNED RESEARCH REVENUE
Debit Credit 10/31-30,000 90,000-10/ 90, -30, ₱60, WANTANABE CAPITAL Debit Credit 250,000-10/ WANTANABE WITHDRAWAL Debit Credit 10/30-200, MEDICAL REVENUE Debit Credit 117,000-10/ SALARIES EXPENSES Debit Credit 10/10-73, REPAIR EXPENSES Debit Credit 10/21-23,
ASSOCIATION DUES EXPENSES
Debit Credit 10/30-15, TELEPHONE EXPENSES Debit Credit 10/23-3, ACCUMULATED DEPRECIATION-MB Debit Credit 5,000-10/ ACCUMULATED DEPRECIATION MEDICAL EQUIPMENT Debit Credit 9,000-10/ SALARIES PAYABLE Debit Credit 51,000-10/ INTEREST PAYABLE Debit Credit 28,000-10/ RESEARCH REVENUE Debit Credit 30,000-10/ INTEREST EXPENSE Debit Credit 10/31-28,
Land Expense
Research Revenue 30,000 30,000 30, Salaries Expense 73,000 51,000 124,000 ₱124, 0 Insurance Expense 5,000 5,000 51,
Repair Expense 23,000 23,000 23, Supplies Expense 35,000 35,000 35, Association Dues Expense 15,000 15,000 15, Telephone Expense 3,000 3,000 3, Depreciation Building 5,000 5,000 5, Depreciation Equipment 9,000 9,000 9, Interest Expense 28,000 28,000 28, Total ₱2,423, 00
Net Income 217, Total ₱464, 0
Watanabe Medical Capital End. ₱267, 0 Total 2,069, 0
\
Watanabe Medical Clinic Statement of financial performance For the month indeed October 31 2021 Medical Revenue ₱434, Research Revenue Operating Expenses Salaries Expenses (124,000) Insurance Expenses (51,000) Repair Expenses (23,000) Supplies Expenses (35,000) Association dues Expense (15,000)
Liabilities:
Watanabe Medical Clinic
- Account Receivable 204,
- Medical Supplies 54,
- Prepaid Insurance 60,
- Land 250,
- Medical Building 1,000,
- Medical Equipment 465,
- 24% Note Payable ₱400,
- 20% Note Payable 1,200,
- Account Payable 49,
- Unearned Research Revenue 90,
- Watanabe Capital 250,
- Watanabe Withdrawal 200,
- Medical Revenue 434,
- Salaries Expense 73,
- Telephone Expense 3,
- Repair Expense 23,
- Association Dues Expense 15,
- Account Receivable 204,
- Medical Supplies 21,
- Prepaid Insurance 55,
- Land 250,
- Medical Building 1,000,
- Accumulated Depreciation Medical Building 5,
- Medical Equipment 465,
- Accumulated Depreciation Medical Equipment 9,
- 24% Note payable 400,
- 20% Note Payable 1,200,
- Account Payable 49,
- Salaries Payable 51,
- Interest Payable 28,
- Unearned Research Revenue 60,
- Watanabe Capital 250,
- Watanabe Withdrawal 200,
- Medical Revenue 434,
- Research Revenue 124,000 30,
- Insurance Expense 5,
- Repair Expense 23,
- Supplies Expense 35,
- Association Expense 15,
- Telephone Expense 3,
- Depreciation Building 5,
- Depreciation Equipment 9,
- Interest Expense 28,
- ₱2,516,000 ₱2,516,
- Cash 74,
- Account Receivable 209,
- Medical Supplies 21,
- Prepaid Insurance 55,
- Land 250,
- Medical Building 1,000,
- Accumulated depreciation medical Building 5,
- Medical equipment 465,
- Accumulated depreciation Medical Equipment 9,
- Total ₱2,055,
- 24% note payable 400,
- 20% note payable 1,200,
- Account payable 49,
- Salaries Payable 51,
- Interest Payable 28,
- Unearned Research Revenue 60,
- Total= ₱1,788,
- Watanabe Medical Clinic capital =₱267, Owners Equity:
- Total Liabilities and Owners equity =₱2,055, - October 31, Post closing trial balance
Cash ₱74, Account Receivable 204, Medical Supplies 21, Prepaid Insurance 55, Land 250, Medical Building 1,000, Accumulated Depreciation - Medical Building
Medical Equipment 465, Accumulated Depreciation - Medical 9, 24% Note Payable 400, 20% Note Payable 1,200, Account Payable 49, Salaries Payable 51, Interest Payable 28, Unearned Research Revenue 60, Wantanabe Capital 267, Total ₱2,069,000 ₱2,069, Salaries and Interest Reversing Entries Act No. Debit Credit Salaries Expense 510 51, Salaries Payable Salaries Incurred but not yet paid.
Interest Expense 590 28, Interest Payable Interest incurred but not yet paid.
