Question

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

Answer 1

Date	Account Titles	Debit	Credit
1-Apr	Cash	21,000.00
	Owner’s Capital		21,000.00
	(Being Contribution for Capital Received)
2-Apr	Prepaid Rent	1,200.00
	Cash		1,200.00
	(Being Rent Paid)
3-Apr	Supplies	4,700.00
	Accounts Payable		4,700.00
	(Being Dental Supplies Purchased)
10-Apr	Accounts Receivable	4,600.00
	Service revenue		4,600.00
	(Being Service Revenue billed)
11-Apr	Cash	1,400.00
	Unearned Service Revenue		1,400.00
20-Apr	Cash	1,500.00
	Service revenue		1,500.00
	(Being Service Revenue recorded )
30-Apr	Salaries and Wages Expense	2,400.00
	Salaries Payable		2,400.00
	(Bieng Salaries Recorded)
30-Apr	Salaries Payable	2,400.00
	Cash		2,400.00
	(Being Salaries Paid)
30-Apr	Accounts Payable	2,820.00
	Cash		2,820.00
	(Being Cash paid on Account Purchases)
30-Apr	Rent	1,200.00
	Prepaid Rent		1,200.00
	(Being Rent Exp. Recorded)

Cash
Date	Explanation	Debit	Credit	Balance
1-Apr	Owner’s Capital	21,000.00		21,000.00
2-Apr	Prepaid Rent		1,200.00	19,800.00
11-Apr	Unearned Service Revenue	1,400.00		21,200.00
20-Apr	Service revenue	1,500.00		22,700.00
30-Apr	Salary Payable		2,400.00	20,300.00
30-Apr	Accounts Payable		2,820.00	17,480.00

Supplies
Date	Explanation	Debit	Credit	Balance
3-Apr	Accounts Payable	4,700.00		4,700.00

Accounts Payable
Date	Explanation	Debit	Credit	Balance
3-Apr	Accounts Payable		4,700.00	4,700.00
30-Apr	Cash	2,820.00		1,880.00

Accounts Receivable
Date	Explanation	Debit	Credit	Balance
10-Apr	Service revenue	4,600.00		4,600.00

Unearned Service Revenue
Date	Explanation	Debit	Credit	Balance
11-Apr	Cash		1,400.00	1,400.00

Owner’s Capital
Date	Explanation	Debit	Credit	Balance
1-Apr	Cash		21,000.00	21,000.00

Service Revenue
Date	Explanation	Debit	Credit	Balance
10-Apr	Accounts Receivable		4,600.00	4,600.00
20-Apr	Cash		1,500.00	6,100.00

Salaries and Wages Expense
Date	Explanation	Debit	Credit	Balance
	Salaries Payable	2,400.00		2,400.00

Rent Expense
Date	Explanation	Debit	Credit	Balance
30-Apr	Prepaid Rent	1,200.00		1,200.00

Trial Balance
Account Title	Debit	Credit
Cash	17,480.00
Owner’s Capital		21,000.00
Supplies	4,700.00
Accounts Payable		1,880.00
Accounts Receivable	4,600.00
Service revenue		6,100.00
Unearned Service Revenue		1,400.00
Salaries and Wages Expense	2,400.00
Rent	1,200.00
Total	30,380.00	30,380.00

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