LAGMAN MEDICAL CLINIC Trial Balance July 31, 2020 Dr. Lagman, Capital Cash on Hand P 49,500 P 8,000 Accounts Receivable Accounts Payable Dr. Lagman, Drawing Medical Income Interest Income 6,000 4,000 2,000 25,000 200 Medical Equipment Furniture and Fixtures Prepaid Rent Supplies on Hand Interest Expense Salaries Expense Estimated Uncollectible Accounts Notes Payable Light and Water Expense 50,000 5,000 4,000 1,000 300 4,000 200 2,000 600 P 80,900 P 80,900 Total Additional Information: 1. Accrued salaries P4,000. 2. Supplies on hand P500. 3. 5% of the outstanding Accounts Receivable is uncollectible. 4. Prepaid rent of P4,000 was applied to month's rent. 5. Accrued medical income P3,000 6. Light and water unpaid P300 7. 10/% depreciation is allowed on all fixed assets. Required: 1. Prepare the adjusting entries.

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ISBN:9781259964947
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Presented below is the trial balance of Dr. Dale Lagman for the month of July 16, 2020

1:57 AM
Hl 1 43%
MODULE-8-Learning-Activities.pdf
PRACTICAL EXERCISE 4
Presented below is the trial balance of Dr. Dale Lagman for the month of July 16, 2020
LAGMAN MEDICAL CLINIC
Trial Balance
July 31, 2020
Dr. Lagman, Capital
Cash on Hand
P
49,500
8,000
6,000
Accounts Receivable
Accounts Payable
Dr. Lagman, Drawing
Medical Income
Interest Income
Medical Equipment
Furniture and Fixtures
Rent
4,000
2,000
25.000
200
Prepaid
Supplies on Hand
Interest Expense
Salaries Expense
50,000
5,000
4,000
1,000
300
4,000
Estimated Uncollectible Accounts
Notes Payable
Light and Water Expense
200
2,000
600
Total
P
80,900
P
80,900
Additional Information:
1. Accrued salaries P4,000.
2. Supplies on hand P500.
3. 5% of the outstanding Accounts Receivable is uncollectible.
4. Prepaid rent of P4,000 was applied to month's rent.
5. Accrued medical income P3,000
6. Light and water unpaid P300
7. 10/% depreciation is allowed on all fixed assets.
Required:
1. Prepare the adjusting entries.
2. Prepare a 10-column worksheet. Arrange the accounts according to assets, liabilities, capital, income,
and expenses
3.
Income Statement
4.
Balance Sheet
4
Main Campus, Alcate, Victoria
Bongabong Campus, Labasan, Bongubong
Calapan City Campus Masipit, Calapan City
Transcribed Image Text:1:57 AM Hl 1 43% MODULE-8-Learning-Activities.pdf PRACTICAL EXERCISE 4 Presented below is the trial balance of Dr. Dale Lagman for the month of July 16, 2020 LAGMAN MEDICAL CLINIC Trial Balance July 31, 2020 Dr. Lagman, Capital Cash on Hand P 49,500 8,000 6,000 Accounts Receivable Accounts Payable Dr. Lagman, Drawing Medical Income Interest Income Medical Equipment Furniture and Fixtures Rent 4,000 2,000 25.000 200 Prepaid Supplies on Hand Interest Expense Salaries Expense 50,000 5,000 4,000 1,000 300 4,000 Estimated Uncollectible Accounts Notes Payable Light and Water Expense 200 2,000 600 Total P 80,900 P 80,900 Additional Information: 1. Accrued salaries P4,000. 2. Supplies on hand P500. 3. 5% of the outstanding Accounts Receivable is uncollectible. 4. Prepaid rent of P4,000 was applied to month's rent. 5. Accrued medical income P3,000 6. Light and water unpaid P300 7. 10/% depreciation is allowed on all fixed assets. Required: 1. Prepare the adjusting entries. 2. Prepare a 10-column worksheet. Arrange the accounts according to assets, liabilities, capital, income, and expenses 3. Income Statement 4. Balance Sheet 4 Main Campus, Alcate, Victoria Bongabong Campus, Labasan, Bongubong Calapan City Campus Masipit, Calapan City
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