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.

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter13: Property Transact Ions: Determination Of Gain Or Loss, Basis Considerations, And Nontaxable Exchanges

Section: Chapter Questions

Problem 96CP

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