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Sample Journal Entries

This document is a worksheet for Ty Medical Clinic for the year ended December 31, 2016. It shows account balances from the trial balance and adjustments, and allocates the adjusted balances to the income statement and balance sheet. Key assets include $92,250 in cash, $9,100 in accounts receivable after a $1,600 adjustment, and $54,000 in furniture and equipment. Key income includes $43,300 in medical service fees after a $1,600 adjustment and $21,900 in consulting fees. Expenses include $9,750 for supplies, $2,200 for depreciation, and $10,400 for salaries.

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Doc Mark Emit
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2K views

Sample Journal Entries

This document is a worksheet for Ty Medical Clinic for the year ended December 31, 2016. It shows account balances from the trial balance and adjustments, and allocates the adjusted balances to the income statement and balance sheet. Key assets include $92,250 in cash, $9,100 in accounts receivable after a $1,600 adjustment, and $54,000 in furniture and equipment. Key income includes $43,300 in medical service fees after a $1,600 adjustment and $21,900 in consulting fees. Expenses include $9,750 for supplies, $2,200 for depreciation, and $10,400 for salaries.

Uploaded by

Doc Mark Emit
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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TY MEDICAL CLINIC

Worksheet
For the Year Ended December 31, 2016

Account Title Trial Balance Adjustment Adjusted Trial Balance Income Statement Balance Sheet
Cash 92,250.00 92,250.00
Accounts Receivable 7,500.00 1,600.00 9,100.00
Medical Supplies 13,000.00 9,750.00 3,250.00
Prepaid Insurance 3,600.00 300.00 3,300.00
Furniture and Equipment 54,000.00 54,000.00
Accumulated Depreciation-Furniture 450.00 450.00
Medical Equipment 210,000.00 210,000.00
Accumulated Dep-Medical Equip 1,750.00 1,750.00
Accounts Payable 9,000.00 9,000.00
Accrued Expenses 950.00 950.00
Loan Payable 100,000.00 100,000.00
Teresa Young, Capital 250,000.00 250,000.00
Teresa Young, Drawing 18,000.00 18,000.00
Income Summary

Medical Service Fees 41,700.00 1,600.00 43,300.00


Consulting Fess 21,900.00 21,900.00
Advertising Expense 2,400.00 2,400.00
Insurance Expense 300.00 300.00
Maintenance Expense 2,000.00 2,000.00
Miscellaneous Expense 500.00 500.00
Rent Expense 4,000.00 4,000.00
Salary Expense 10,400.00 10,400.00
Supplies Expense, 9,750.00 9,750.00
Tax Expense 1,500.00 1,500.00
Utilities Expense 1,950.00 950.00 2,900.00
Depreciation Expense 2,200.00 2,200.00
Interest Expense 1,500.00 1,500.00
422,600.00 422,600.00 14,800.00 14,800.00 427,350.00 427,350.00

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