D. Johnston, a physical therapist, opened Johnston's Clinic. His accountant provided the following alphabetical list of accounts and balances as of July 31, 20--: ACCOUNT NAME BALANCE Accounts Payable 710 Accounts Receivable 315 Cash 33,185 D. Johnston, Capital 35,000 D. Johnston, Drawing 1,200 Miscellaneous Expense 445 Office Equipment 1,210 Office Furniture 835 Professional Fees 4,205 Rent Expense 1,245 Salary Expense 960 Utilities Expense 520 All the above accounts have normal balances.
D. Johnston, a physical therapist, opened Johnston's Clinic. His accountant provided the following alphabetical list of accounts and balances as of July 31, 20--: ACCOUNT NAME BALANCE Accounts Payable 710 Accounts Receivable 315 Cash 33,185 D. Johnston, Capital 35,000 D. Johnston, Drawing 1,200 Miscellaneous Expense 445 Office Equipment 1,210 Office Furniture 835 Professional Fees 4,205 Rent Expense 1,245 Salary Expense 960 Utilities Expense 520 All the above accounts have normal balances.
Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter18: Acquiring Capital For Growth And Development
Section: Chapter Questions
Problem 1AP
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D. Johnston, a physical therapist, opened Johnston's Clinic. His accountant provided the following alphabetical list of accounts and balances as of July 31, 20--:
ACCOUNT NAME BALANCE
Accounts Payable 710
Accounts Receivable 315
Cash 33,185
D. Johnston, Capital 35,000
D. Johnston, Drawing 1,200
Miscellaneous Expense 445
Office Equipment 1,210
Office Furniture 835
Professional Fees 4,205
Rent Expense 1,245
Salary Expense 960
Utilities Expense 520
All the above accounts have normal balances.
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