Horngren's Accounting (11th Edition)
11th Edition
ISBN: 9780133856781
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Chapter 2, Problem S2.4SE
i Journalizing transactions
Jack Davis opened a medical practice in Sacramento, California, and had the following transactions during the month of January.
Jan. 1 The business received $35,000 cash and gave capital to Davis.
2 Purchased medical supplies on account, $13,000.
4 Performed services for patients receiving $ 1,900.
12 Paid monthly office rent of $2,600.
15 Recorded $ 10,000 revenue for services rendered to patients on account.
Journalize the transactions of Jack Davis, M.D. Include an explanation with each entry.
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List and record each transaction (in 000s) for the Claymont Outpatient Clinic, under the accrual basis of accounting, at December 31, 20X1. You are creating a General Ledger using exhibit 3-6 on page 112 as a guide. Zelman( Workbook)
a. The clinic received a $10,000,000 unrestricted cash contribution from the community.
b. The clinic purchased $4,500,000 of equipment using cash.
c. The clinic borrowed $2,000,000 from the bank on a long-term basis.
d. The clinic purchased $550,000 of supplies on credit.
e. The clinic provided $8,400,000 of services on credit.
f. In the provision of these services, the clinic used $420,000 of supplies.
g. The clinic received $800,000 in advance to care for capitated patients.
h. The clinic incurred $4,500,000 in labor expenses and paid cash for them.
i. The clinic incurred $2,230,000 in general expenses and paid cash for them.
j. The clinic received $6,000,000 from patients and their 3rd party payers in payment of outstanding accounts.
k.…
Prepare the journal entries for the following transactions, provided the chart accounts below:
DATE:APRIL 2022TransactionsApril 01 -Completion of a denture worth 6,000 April 02 - Received 7,000 in total from appointed patients for the whole dayApril 03 -received 7,000 in total from appointed patients for the whole dayApril 04 -received 2,500 in total from appointed patientsApril 05- paid 36,000 for car loan for business/personal useApril 06- received 1,500 from one patient that dayApril 07 -received 3,000 from appointed patients that dayApril 08- purchased dental supplies, 4,500April 09- received 4,000 from appointed patients April 10-received 3,000 in total from appointed patients April 11-received 1,500 from one patient that dayApril 12-paid 10,000 for dental laboratory feeApril 13-received 20,000 from a prosthodontic caseApril 15-paid 13,000 for a lot for future investment/businessApril 15 -paid 7,500 for dental assistantApril 16-received 2500 in total from appointed patientsApril…
Chapter 2 Solutions
Horngren's Accounting (11th Edition)
Ch. 2 - The detailed record of the changes in a particular...Ch. 2 - Which of the following accounts is a liability?...Ch. 2 - The left side of an account is used to record...Ch. 2 - Which of the following statements is correct?...Ch. 2 - Your business purchased office supplies of $2,500...Ch. 2 - Sedlor Properties puchased office supplies on...Ch. 2 - Posting a $2,500 purchase of office supplies on...Ch. 2 - Pixel Copies recorded a cash collection on account...Ch. 2 - Which sequence correctly summarizes the accounting...Ch. 2 - Nathvile Laundry reported assets of $800 and...
Ch. 2 - Identify the three categones of the accounting...Ch. 2 - What is the purpose of the chart of accounts?...Ch. 2 - What does a ledger show? What’s the difference...Ch. 2 - Accounng uses a double-entry system. Explain what...Ch. 2 - What is T-account? On which side is the debit? On...Ch. 2 - Prob. 6RQCh. 2 - Prob. 7RQCh. 2 - Identify which types of accounts have a normal...Ch. 2 - What are source documents? Provide examples of...Ch. 2 - Prob. 10RQCh. 2 - Explain the five steps in journalizing and posting...Ch. 2 - What are the four parts of a journal entry?Ch. 2 - What is involved in the posting process?Ch. 2 - What is the purpose of the trial balance?Ch. 2 - What is the differnce between the trial balance...Ch. 2 - If total debits equal total credits on the trial...Ch. 2 - What is the calculation for the debt ratio?...Ch. 2 - Identifying accounts Learning Objective 1 Consider...Ch. 2 - Identifying increases and decreases in accounts...Ch. 2 - Identifying normal balances Learning Objective 2...Ch. 2 - i Journalizing transactions Jack Davis opened a...Ch. 2 - Journalizing transactions Arkansas Sales...Ch. 2 - (atculaiing the balance of a r-accounl Ac< ounts P...Ch. 2 - Journalizing transactions and posting io I account...Ch. 2 - Preparing a trial balance Henderson Floor...Ch. 2 - Prob. S2.9SECh. 2 - Using accounting vocabulary Learning Objectives 1,...Ch. 2 - Creating a chart of accounts Learning Objective 1...Ch. 2 - Identifying accounts, increases in accounts, and...Ch. 2 - Identifying increases and decreases in accounts...Ch. 2 - Identifying source documents Learning Objective 3...Ch. 2 - Analyzing and journalizing transactions Learing...Ch. 2 - Prob. E2.16ECh. 2 - Prob. E2.17ECh. 2 - Analyzing and journalizing transactions Learning...Ch. 2 - Posting journal entries to four-column accounts...Ch. 2 - Analyzing transactions from T-accounts Learning...Ch. 2 - Prob. E2.21ECh. 2 - Prob. E2.22ECh. 2 - Prob. E2.23ECh. 2 - Journalizing transactions, posting journal entries...Ch. 2 -
i 25 \nalyzing accounting errors
- lime ii is i...Ch. 2 - Prob. E2.26ECh. 2 - Prob. E2.27ECh. 2 - Prob. E2.28ECh. 2 - Prob. P2.29APGACh. 2 - Prob. P2.30APGACh. 2 - pj-.U A f«ornalizing transactions, posting journal...Ch. 2 - P2 U \ Jornn-d./lng i. KK.U lions, polling journal...Ch. 2 - Prob. P2.33APGACh. 2 - Prob. P2.34APGACh. 2 - P2-351' jf n,»l« *ng transaction’., posting...Ch. 2 - Prob. P2.36BPGBCh. 2 - Prob. P2.37BPGBCh. 2 - Prob. P2.38BPGBCh. 2 - Prob. P2.39BPGBCh. 2 - Prob. P2.40BPGBCh. 2 - Prob. P2.41CPCh. 2 - Prob. P2.42PSCh. 2 - Prob. 2.1DCCh. 2 - Prob. 2.1EICh. 2 - Prob. 2.1FCCh. 2 - Prob. 2.1FSC
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