Key: 095
Proprietor: Dr.Furball Fixer
Name: Best friends Vet Clinic
Description: Animal Surgery
The business has the following opening balances:
Cash at Bank $18,159
Account Receivable $23,693
Motor Vehicle $37,091
Account Payable $7,569
Bank loan (due 2010) $27,478
Medical Equipment $33,392
Office supplies $630
Medical supplies $1,976
Additional information:
Bank loan interest rate (%per year) 10
Motor vehicle useful life (years) 4
Motor vehicle scrap value($) 5390
Insurance paid for (months) 4
Rent paid for (months) 5
Medical equipment useful life(years) 4
Medical equipment scrap value ($) 2053
Closing stock of office supplies on 30/6($) 792
Closing stock of medical supplies on 30/6($) 英语论文网 【http://www.51lunwen.org】 1676
Comment
-This business was purchase on 1June
You are required to prepare a general journal entry to incorporate the opening balance into the current period, including the balance Capital.
-You will need to refer to the additional information section for your Balance Day Adjustments
-The rent and insurance period start on 1June.
-Show three type of revenue, namely pet consultation, vaccination and desexing fee. All revenues received were for the month of June.
-Unless otherwise indicated, all transactions are on a cash basis. Use one general Account Receivable for all debtor and one general account payable for creditor
-Your B/S should show sweet asset and liability divided into all creditor.
-Staff work a 7-day week and are paid on the 8th day.
Date Description Amount
1/6 Purchase medical supplies –Account $639
1/6 Purchase office supplies –Account $443
1/6 Sundry Expenses $188
2/6 Paid General Insurance $2,588
2/6 Payment to Account payable $628
2/6 Purchase medical supplies—Cash $415
2/6 Desexing—Cash $2,311
2/6 Pet consultation
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论文编号：
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