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CHAPTER 4 Adstecen, rancid Sta ts ond Frascal n Apcoure Titles Debt Creds Cnt Accounts Recevable Supples Equipnent Accumuated Osprection Software Accumulated Amonzation ccounts Payati Notirs Pyable hhort term Salgties and Wiges Pay Inerest Payoble income Tars Paytle Delered Revono 0 Common Stock 18 Rotaned Eamings 4 Service Rovenue Depiecianon Expers Amortzapon Excense Soones and Wages Experse Supples Experee Interest Expene ntome Tex Expenser $26 Totols Transactions during 2018 (summarized in thousands of dallasi follow Borrowed $22 cash on July 1, 2018, signing a six-month note payable.. Parchased equipment for $25 cash on July 2, 2018. Issued additional shares of common stock for 55 an July 31 Purchased software on July 4, $3 cash. 4. d Purchased supplies on July 5 on account foe future use, S7 Recorded revenues on December 6 of $55, including $8 on credit and S47 received in cash, Recognized salaries and wages expense on December 7 of $30 paid in cash. Collected accounts receivable on December 8, S9 Paid accounts puyable on December 9, $10. Received a $3 cash deposit an December 10 from a hospital for a cantract to start January 5, i 2019 Data for adjusting journal entries on December 31: Amortization for 2018, $1 Supplies of S3 were counted on December 31, 2018 m. Depreciation for 2018, $4, Accrued interest of $1 on notes payable. Salaries and wages incurred but not yet paid Income tax expense for 2018 was $4 and will be paid in 2019, or recoeded, $3,

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Please hit LIKE button if this helped. For any further explanation, please pu Please hit LIKE button if this helped. For any further explanati Brothers Harry and Herman Beginning Year Date Account Debit Credit Account Titles Debit Credit Debit Credit Debit Cash $ 68 Jul 1 Cash $ 22 Accounts Receivable $ Note Payable (Short term) $ 22 Supplies $ 7 Unadjusted Adjustments Adjusted Trial Credit Debit Credit Debit Credit $ 75 $ 2 $ 7 $ 3 Post Closing Debit Credit $ 75 $ 2 $ 3 Jul 2 $ 25 $ 25 $ 33 Equipment Cash $ 33 $ 25 $ 1 $ 1 $ 4 $ 5 $ 5 5 $ 3 $ 8 $ 8 Jul 3 $ 55 $ 1 $ 2 Cash Common Stock $ $ 1 5 $ 55 $ 3 $ $ 2 $ 1 $ 2 $ 22 $ - $ 22 2 2 22 3 1 Jul 4 $ 3 $ Software Cash $ 3 $. $ $ $ 3 1 4 S . Jul 5 Supplies Accounts Payable Equipment Accumulated Depreciation Software Accumulated Amortization Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Tax Payable Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Depreciation Expense Amortization Expense Income Tax Expense Interest Expense Supplies Expense Totals 7 $ 3 $ 70 $ 4 $ 55 $ 4 $ 9 Dec 6 $ 55 Accounts Receivable Cash Service Revenue $ $ 8 47 $ 30 $ 33 $ 55 Dec 7 $ 30 Salaries and Wages Expense Cash $ 30 $ $ $ 158 $ 158 $ 1 4 1 7 20 $ $ 1 7 171 $ Dec 8 26 $ 26 $ 136 $ 136 $ $ 20 171 $ 121 $ 121 Cash Accounts Receivable $ 9 Dec 9 $ 10 Income Statement: Accounts Payable Cash $ 10 $ 55 Dec 10 $ 3 Cash Deferred Revenue 3 $ $ $ $ 33 4 1 7 Adjusting Entries: Service Revenue Less: Operating Expense Salaries and Wages Expense Depreciation Expense Amortization Expense Supplies Expense Total Operating Expense Operating Income Less: Interest Expense Income before Tax Less: Income Tax Net Income Dec 31 1 Amortization Expense Accumulated Amortization $ $ -45 10 Dec 31 $3+$7-$3 $ 9 Supplies Expense Supplies $ 7 S -4

Dec 31 Depreciation Expense Accumulated Depreciation 4 Balance Sheet Assets Dec 31 1 Interest Expense Interest Payable $ 1 Current Assets: Cash Accounts Receivable Supplies Total Current assets $ $ $ 75 2. 3 Dec 31 $ 3 Salaries and Wages Expense Salaries and Wages Payable $ 3 $ 80 Dec 31 Income Tax Expense Income Tax Payable 33 is -5 $ Equipment Accumulated Depreciation Software Accumulated Amortization 28 Closing Entries: 8 $ - -2 $ 6 Dec 31 $ 55 Service Revenue Income Summary $ 55 $ 114 Dec 31 $ 50 $ 33 Income Summary Salaries and Wages Expense Depreciation Expense Amortization Expense Income Tax Expense Interest Expense Supplies Expense $ $ $ 2 22 3 $ Total Assets Liabilities Current Liabilities: Accounts Payable Notes Payable (short-term) Salaries and Wages Payable Interest Payable Income Tax Payable Deferred Revenue Total Current Liabilities Stockholder's Equity Common Stock Retained Earnings $9+Net Income $ 1 $ 7 $ $ 4 3 Dec 31 $ 5 Income Summary Retained Earning $ 5 $ $ 70 9 Total Stockholder's Equity $ 79 Total liabilities and Equity $ 114