Question

Asuma que, en septiembre 1, 20Y5, Lee Landry, M.D, organizó una corporación profesional para practicar medicina general. El negocio se conocerá como Family Health Care, P.C., donde P.C. se refiere a profesional corporation. a. Dr. Landry deposita $6,000 en una cuenta de banco a nombre de Family Health Care, P.C., a cambio de acciones ( shares of stock) en la corporación. b. Family Health Care cogió prestado $10,000 al First National Bank para financiar las operaciones. c. Family Health Care compró un terreno por $12,000, en efectivo. d. Durante el primer mes de operaciones, Family Health Care generó ingresos por $5,500 en efectivo, por servicios prestados a sus clientes. e. Family Health Care pagó durante el mes de septiembre los siguientes gastos: Salarios (wages) $1,125, renta (rent) $950., utilidades (utilities), $450, interés (interest), $100, y gastos misceláneos $275. f. Family Health Care pagó $1,500 en dividendos a los accionistas (Dr. Landry)

Answer 1

Event	Accounts titles and explanation	Debit	Credit
A	Cash	6,000
	Common stock		6,000
	(To record cash received from issued of common stock.)
B	Cash	10,000
	Notes payable		10,000
	(To record Borrowed cash through sinning notes payable.)
C	Land	12,000
	Cash		12,000
	(To record purchase of land on cash.)
D	Cash	5,500
	Service revenue		5,500
	(To record service revenue on cash.)
E	Wages expense	1,125
	Rent expense	950
	Utilities expense	450
	Interest expense	100
	Miscellaneous expense	275
	Cash		2,900
	(To record various expenses paid.)
F	Dividends	1,500
	Cash		1,500
	(To record dividends paid.)

Family Health Care, P.C.
Income statement
For the month of Sep 30, 20Y5
Service revenue			5,500
Expenses:
Wages expense		1,125
Rent expense		950
Utilities expense		450
Interest expense		100
Miscellaneous expense		275
Total expenses			2,900
Net income			2,600

Family Health Care, P.C.
Retained earnings statement
For the month of Sep 30, 20Y5
Retained earnings, beginning			-
Add: net income			2,600
Less: Dividends (if any)			1,500
Retained earnings, Sep 30, 20Y5			1,100

Family Health Care, P.C.
Balance sheet
May 31, 2020
Assets
Cash (6000+10000-12000+5500-2900-1500)			5,100
Land			12,000
Total assets			17,100
Liabilities and owner's Equity
Liabilities
Notes Payable			10,000
Stockholder' equity
Common Stock		6,000
Retained earnings		1,100
Total Stockholder' equity			7,100
Total Liabilities and stockholder' equity			17,100