Worksheet

No. Account Title UTB Adjustments

110 Cash 93,800.00
120 Accounts Receivable 48,000.00
130 Fee Receivable - 10,000.00
140 Supplies 7,200.00
150 Office Equipment 75,000.00
160 Accumulated Depreciation -
210 Accounts Payable 38,000.00
220 Salaries Payable -
310 Detoya, Capital 150,000.00
320 Detoya, Withdrawals 12,000.00
330 Income Summary -
410 Consulting Revenues 68,000.00
510 Salaries Expense 12,000.00 1,800.00
520 Supplies Expense - 2,500.00
530 Rent Expense 8,000.00
570 Depreciation Expense - 800.00
256,000.00 256,000.00 15,100.00
Profit 1.00 1.00
Adjustments ATB IS BS
93,800.00 93,800.00
48,000.00 48,000.00
10,000.00 10,000.00
2,500.00 4,700.00 4,700.00
75,000.00 75,000.00
800.00 800.00
38,000.00
1,800.00 1,800.00
150,000.00
12,000.00 12,000.00

10,000.00 78,000.00 78,000.00

13,800.00 13,800.00
2,500.00 2,500.00
8,000.00 8,000.00
800.00 800.00
15,100.00 268,600.00 268,600.00 25,100.00 78,000.00 243,500.00
1.00 52,900.00
78,000.00 78,000.00 243,500.00
BS Closing Entries PCTB
93,800.00
48,000.00
10,000.00
4,700.00
75,000.00
800.00 800.00
38,000.00 38,000.00
1,800.00 1,800.00
150,000.00 12,000.00 52,900.00 190,900.00
12,000.00 -
52,900.00 52,900.00
78,000.00 -
13,800.00 -
2,500.00 -
8,000.00 -
800.00 -
190,600.00 142,900.00 142,900.00 231,500.00 231,500.00
52,900.00 1.00 1.00
243,500.00

Consulting Revenues 78,000.00

Income Summary 52,900.00
Salaries Expense 13,800.00
Supplies Expense 2,500.00
Rent Expense 8,000.00
Depreciation Expense 800.00

Income Summary 52,900.00

Detoya, Capital 52,900.00

Detoya, Capital 12,000.00

Detoya, Withdrawals 12,000.00
General Journal
2023
Oct 1

10

12

18

21

23
 24

25

27

30

30

Adjustments:
31

31

31

31

31

31

4pts 31
 Closing Entries
31

31

31

Reversing Entries

Nov 1

4pts 1
General Journal

Cash
Marasigan, Capital
To record initial investment of Dr. Marasigan to his medical business

Medical Building
Land
Cash
20% Notes Payable
To record the acquisition of land and building partly through issuance of notes payable

Medical Equipment
Medical Supplies
Cash
24% Notes Payable
To record the acquisition of medical equipment and supplies partly through issuance of notes payable

Prepaid Insurance
Cash
To record the acquisition of "all-in-one" insurance covering 1 year

Cash
Medical Revenues
To record cash received from services rendered

Medical Supplies
Accounts Payable
To record the acquisition of medical supplies on account

Salaries Expense
Cash
To record the salaries payment of nurses and office staffs

Cash
Unearned Research Revenues
To record cash advances paid by Laguna Experimental Drug Center for a research service

Accounts Receivable
Medical Revenues
To record medical revenues earned from a credit patient

Repairs Expense
Cash
To record payment of repair expenses

Telephone Expense
Cash
 To record payment of telephone expenses

Medical Equipment
Accounts Payable
To record the acquisition of medical equipment on account

Cash
Accounts Receivable
To record partial collection from patients

Accounts Payable
Cash
To record partial payment to San Pablo Supply

Marasigan, Withdrawals
Cash
To record drawings of Dr. Marasigan

Association Dues Expense

Cash
To record payment of association dues

Adjustments:
Insurance Expense
Prepaid Insurance
To record expired portion of insurance

Supplies Expense
Medical Supplies
To record the expenses related to medical supplies

Depreciation Expense - Bldg.

Accumulated Depreciation - Medical Building
To record the depreciation for Building

Depreciation Expense - Equipt.

Accumulated Depreciation - Medical Equipment
To record the depreciation for Medical Equipment

Unearned Research Revenues

Research Revenues
To record the revenues already earned from Research Services

Salaries Expense
Salaries Payable
To record accrual of salaries expenses

Interest Expense
 Interest Payable
To record accrual of interest on notes payable

Closing Entries
Medical Revenues
Research Revenues
Income Summary
Salaries Expense
Insurance Expense
Repairs Expense
Supplies Expense
Association Dues Expense
Telephone Expense
Depreciation Expense - Bldg.
Depreciation Expense - Equipt.
Interest Expense
To close all income statement accounts to income summary

Income Summary
Detoya, Capital
To close all income summary to Capital account

Detoya, Capital
Detoya, Withdrawals
To close drawing account to Capital account

Reversing Entries

Salaries Payable
Salaries Expense
To record the reversal of salaries expenses accrual

Interest Payable
Interest Expense
To record the reversal of interest on notes payable accrual
PR Dr. Cr.

110 250,000.00
310 250,000.00

160 1,000,000.00
150 250,000.00
110 50,000.00
220 1,200,000.00

170 420,000.00
130 39,000.00
110 59,000.00
210 400,000.00

140 20,000.00
110 20,000.00

110 117,000.00
410 117,000.00

130 17,000.00
230 17,000.00

510 73,000.00
110 73,000.00

110 90,000.00
260 90,000.00

120 317,000.00
410 317,000.00

530 23,000.00
110 23,000.00

560 3,000.00
110 3,000.00
170 45,000.00
230 45,000.00

110 113,000.00
120 113,000.00

230 13,000.00
110 13,000.00

320 200,000.00
110 200,000.00

550 15,000.00
110 15,000.00

520 1,667.00
140 1,667.00

540 35,000.00 Oct 30

130 35,000.00

570 5,000.00
165 5,000.00

580 9,000.00
175 9,000.00

260 30,000.00
420 30,000.00

510 51,000.00
240 51,000.00

590 28,000.00
250 28,000.00

Oct 31

434,000.00
30,000.00
220,333.00
124,000.00
1,667.00
23,000.00
35,000.00
15,000.00
3,000.00
5,000.00
9,000.00
28,000.00

220,333.00 Oct 23
220,333.00

200,000.00 Oct 31
200,000.00

Oct 31

240 51,000.00
510 51,000.00
Oct 31

250 28,000.00
590 28,000.00