Prepare a classified balance sheet and income statement for Dr. Ks Immediate Care Center at...
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Accounting
Prepare a classified balance sheet and income statement for Dr. Ks Immediate Care Center at and for the month of January 31, 2015.
Dr. Ks Immediate Care Center has been operating for several years. On January 1, 2015, the account balances were as shown below. Record the following transactions and adjustments for the month of January in the T accounts
provided below. Label any additional T-accounts you may need.
1) Purchased $10,000 of medical supplies on account.
2) Provided medical services of $150,000 on account.
3) Received and paid the January electric bill of $700.
4) Collected $52,000 on account
5) Employees earned wages of $27,000 during January; all but $2,000 of wages had been paid by Jan. 31.
6) The count of medical supplies on January 31 revealed that $3,200 of supplies remained.
7) Recorded the estimated depreciation of $3,250 on the computer equipment.
8) Recorded but did not pay tax expense of $20,000.
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