Homework: Week 2 Homework Assignment Score: 0.31 of 1 pt 1 ot 4 (4 complete) P2-29A (similar to) Joueph Wilmot practices medicine under the business title Jaseph Vlmot, MD During July, the medcal practice completed the folkwving transactions: A (Click the icon to view the transactoans) 6 (Cick the cn to view te accounts used by t'e bas ness) Read the requremanta Requirement 2. Pest the jourral entries to the T-accounts, uning trarsaction dates s posting references in the ledger accours. Label the balance of each account Bal We will post to the accounts one trarsaction at a time Begin by psting the events from the 1st. Juy 1. Wilmot contributed S68,000 cash to the business in exchange for Common Stnck. (We will post to the accounts une transactio1 at a limo. Post only the transaction from July 1 in this step) Bevinw the July Linunal entry that you peopared in Respuirament 1 Cash Accounts Payable Service Revenue More Info Jul. 1 68,000 Jul 1 Wilirot contrbuted S68,000 cash to the busins in excluange for cnmon stork 5 Paid monthly rent un medcal exquipment, 3620. 9 P'aid $19,000 cash to purchase land to be sed in operatiores 10 Purchased office supples un account, $1,200 19 Borrowed $78,000 fran the bank for buiness una 22 Paid S00 on account 28 The business received a bill for advortising in the daily ewspaper to be pad in Mugust, $260 31 Revenues carned during the month included $6.600 cash and S5,700 on accoat Advertising Payable Salaries Expense Accounts Receivable Unearned Revenue Rent Expense Office Supplies Notes Payable Utilities Expense 31 Paid erip oyem' salaries $2.900, office rent $1,500, and unilites $350. Hecord a a compound entry. 31 The usiness roceived $1,190 for rod ca screenng services lo be perinmed next month Land Common Stock Advertising Expense 31 Paid cash dvidends al $7,500
Homework: Week 2 Homework Assignment Score: 0.31 of 1 pt 1 ot 4 (4 complete) P2-29A (similar to) Joueph Wilmot practices medicine under the business title Jaseph Vlmot, MD During July, the medcal practice completed the folkwving transactions: A (Click the icon to view the transactoans) 6 (Cick the cn to view te accounts used by t'e bas ness) Read the requremanta Requirement 2. Pest the jourral entries to the T-accounts, uning trarsaction dates s posting references in the ledger accours. Label the balance of each account Bal We will post to the accounts one trarsaction at a time Begin by psting the events from the 1st. Juy 1. Wilmot contributed S68,000 cash to the business in exchange for Common Stnck. (We will post to the accounts une transactio1 at a limo. Post only the transaction from July 1 in this step) Bevinw the July Linunal entry that you peopared in Respuirament 1 Cash Accounts Payable Service Revenue More Info Jul. 1 68,000 Jul 1 Wilirot contrbuted S68,000 cash to the busins in excluange for cnmon stork 5 Paid monthly rent un medcal exquipment, 3620. 9 P'aid $19,000 cash to purchase land to be sed in operatiores 10 Purchased office supples un account, $1,200 19 Borrowed $78,000 fran the bank for buiness una 22 Paid S00 on account 28 The business received a bill for advortising in the daily ewspaper to be pad in Mugust, $260 31 Revenues carned during the month included $6.600 cash and S5,700 on accoat Advertising Payable Salaries Expense Accounts Receivable Unearned Revenue Rent Expense Office Supplies Notes Payable Utilities Expense 31 Paid erip oyem' salaries $2.900, office rent $1,500, and unilites $350. Hecord a a compound entry. 31 The usiness roceived $1,190 for rod ca screenng services lo be perinmed next month Land Common Stock Advertising Expense 31 Paid cash dvidends al $7,500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
Transcribed Image Text:Homework: Week 2 Homework Assignment
Score: 0.31 of 1 pt
1 ot 4 (4 complete)
P2-29A (similar to)
Joueph Wilmot practices medicine under the business title Jaseph Vlmot, MD During July, the medcal practice completed the folkwving transactions:
A (Click the icon to view the transactoans)
6 (Cick the cn to view te accounts used by t'e bas ness)
Read the requremanta
Requirement 2. Pest the jourral entries to the T-accounts, uning trarsaction dates s posting references in the ledger accours. Label the balance of each account Bal
We will post to the accounts one trarsaction at a time Begin by psting the events from the 1st.
Juy 1. Wilmot contributed S68,000 cash to the business in exchange for Common Stnck. (We will post to the accounts une transactio1 at a limo. Post only the transaction from July 1 in this step)
Bevinw the July Linunal entry that you peopared in Respuirament 1
Cash
Accounts Payable
Service Revenue
More Info
Jul. 1
68,000
Jul 1 Wilirot contrbuted S68,000 cash to the busins in excluange for cnmon stork
5 Paid monthly rent un medcal exquipment, 3620.
9 P'aid $19,000 cash to purchase land to be sed in operatiores
10 Purchased office supples un account, $1,200
19 Borrowed $78,000 fran the bank for buiness una
22 Paid S00 on account
28 The business received a bill for advortising in the daily ewspaper to be pad in
Mugust, $260
31 Revenues carned during the month included $6.600 cash and S5,700 on accoat
Advertising Payable
Salaries Expense
Accounts Receivable
Unearned Revenue
Rent Expense
Office Supplies
Notes Payable
Utilities Expense
31 Paid erip oyem' salaries $2.900, office rent $1,500, and unilites $350. Hecord a
a compound entry.
31 The usiness roceived $1,190 for rod ca screenng services lo be perinmed
next month
Land
Common Stock
Advertising Expense
31 Paid cash dvidends al $7,500
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education