Question

Problem 2-2A Emily Valley is a licensed dentist. During the first month of the operation of...

Problem 2-2A Emily Valley is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred. April 1 Invested $21,000 cash in her business. 1 Hired a secretary-receptionist at a salary of $600 per week payable monthly. 2 Paid office rent for the month $1,200. 3 Purchased dental supplies on account from Dazzle Company $4,700. 10 Performed dental services and billed insurance companies $4,600. 11 Received $1,400 cash advance from Leah Mataruka for an implant. 20 Received $1,500 cash for services performed from Michael Santas. 30 Paid secretary-receptionist for the month $2,400. 30 Paid $2,820 to Dazzle for accounts payable due. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit (Owner’s investment of cash in business) (Hired a secretary-receptionist) (Paid monthly office rent) (Purchased supplies on account from Dazzle Company) (Billed clients for services performed) (Received cash for future service) (Received cash for services performed) (Paid monthly salary) (Paid Dazzle Company on account) SHOW LIST OF ACCOUNTS Post to the ledger accounts. (Post entries in the order of journal entries presented in the previous question.) Cash No. 101 Date Explanation Ref Debit Credit Balance J1 J1 J1 J1 J1 J1 Accounts Receivable No. 112 Date Explanation Ref Debit Credit Balance J1 Supplies No. 126 Date Explanation Ref Debit Credit Balance J1 Accounts Payable No. 201 Date Explanation Ref Debit Credit Balance J1 J1 Unearned Service Revenue No. 209 Date Explanation Ref Debit Credit Balance J1 Owner’s Capital No. 301 Date Explanation Ref Debit Credit Balance J1 Service Revenue No. 400 Date Explanation Ref Debit Credit Balance J1 J1 Salaries and Wages Expense No. 726 Date Explanation Ref Debit Credit Balance J1 Rent Expense No. 729 Date Explanation Ref Debit Credit Balance J1 SHOW LIST OF ACCOUNTS Prepare a trial balance on April 30, 2017. EMILY VALLEY, DENTIST Trial Balance Debit Credit $ $ Totals $ $ SHOW LIST OF ACCOUNTS

Homework Answers

Answer #1
Date Account Titles and Explanation Debit Credit
Apr-01 Cash 21000
Owner's Capital 21000
(Owner's investment of cash in business)
Apr-01 No Entry 0
No Entry 0
(Hired a secretary-receptionist)
Apr-02 Rent expense 1200
Cash 1200
(Paid monthly office rent)
Apr-03 Supplies 4700
Accounts payable 4700
(Purchased supplies on account from Dazzle Company)
Apr-10 Accounts receivable 4600
Service revenue 4600
(Billed clients for services performed)
Apr-11 Cash 1400
Unearned service revenue 1400
(Received cash for future service)
Apr-20 Cash 1500
Service revenue 1500
(Received cash for services performed)
Apr-30 Salaries and Wages expense 2400
Cash 2400
(Paid monthly salary)
Apr-30 Accounts payable 2820
Cash 2820
(Paid Dazzle Company on account)
Cash Accounts Receivable
Date Explanation Ref. Debit Credit Balance Date Explanation Ref. Debit Credit Balance
Apr-01 J1 21000 21000 Apr-10 J1 4600 4600
Apr-02 J1 1200 19800
Apr-11 J1 1400 21200
Apr-20 J1 1500 22700
Apr-30 J1 2400 20300
Apr-30 J1 2820 17480
Supplies Accounts Payable
Date Explanation Ref. Debit Credit Balance Date Explanation Ref. Debit Credit Balance
Apr-03 J1 4700 4700 Apr-03 J1 4700 4700
Apr-30 J1 2820 1880
Unearned Service Revenue Owner's Capital
Date Explanation Ref. Debit Credit Balance Date Explanation Ref. Debit Credit Balance
Apr-11 J1 1400 1400 Apr-01 J1 21000 21000
Service Revenue Salaries and Wages Expense
Date Explanation Ref. Debit Credit Balance Date Explanation Ref. Debit Credit Balance
Apr-10 J1 4600 4600 Apr-30 J1 2400 2400
Apr-20 J1 1500 6100
Rent Expense
Date Explanation Ref. Debit Credit Balance
Apr-02 J1 1200 1200
EMILY VALLEY, DENTIST
Trial Balance
April 30, 2017
Account Debit Credit
Cash 17480
Accounts receivable 4600
Supplies 4700
Accounts payable 1880
Unearned service revenue 1400
Owner's capital 21000
Service revenue 6100
Salaries and wages expense 2400
Rent expense 1200
Totals $ 30380 30380
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