KUALITAS LABORATORY TRIAL BALANCE DECEMBER 31, 2020 CREDIT DEBIT 1,250 11,500 39,125 7,500 337,500 Cash Accounts Receivable Medical Supplies Prepaid Insurance Laboratory Equipment Accumulated Depreciation-Laboratory Equipment Accounts Payable Unearned Diagnostic Fees Kualitas, Capital Diagnostic Fees Income Salaries and Wages Expense Rent Expense TОTAL 75,000 3,875 5,000 137,500 275,500 72,500 27,500 496,875 496,875

Quickbooks Online Accounting
3rd Edition
ISBN:9780357391693
Author:Owen
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Chapter6: Investing And Financing Activities
Section: Chapter Questions
Problem 1.4C
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The following information is available for possible adjustments: 1. Accrued utilities expense as of December 31, 2020, P5,000. 2. Kualitas Laboratory provides diagnostic services to Kasa Clinic for a monthly fee of P7,500. Fees for the months of November and December were unpaid and unrecorded as of December 31, 2020. Accounts receivable should be recognized for this.
PROBLEM I
KUALITAS LABORATORY
TRIAL BALANCE
DECEMBER 31, 2020
DEBIT
1,250
11,500
39,125
7,500
337,500
CREDIT
Cash
Accounts Receivable
Medical Supplies
Prepaid Insurance
Laboratory Equipment
Accumulated Depreciation-Laboratory Equipment
Accounts Payable
Unearned Diagnostic Fees
Kualitas, Capital
Diagnostic Fes Income
Salaries and Wages Expense
Rent Expense
TOTAL
75,000
3,875
5,000
137,500
275,500
72,500
27,500
496,875
496,875
Transcribed Image Text:PROBLEM I KUALITAS LABORATORY TRIAL BALANCE DECEMBER 31, 2020 DEBIT 1,250 11,500 39,125 7,500 337,500 CREDIT Cash Accounts Receivable Medical Supplies Prepaid Insurance Laboratory Equipment Accumulated Depreciation-Laboratory Equipment Accounts Payable Unearned Diagnostic Fees Kualitas, Capital Diagnostic Fes Income Salaries and Wages Expense Rent Expense TOTAL 75,000 3,875 5,000 137,500 275,500 72,500 27,500 496,875 496,875
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