Menu
support@businesspapershelp.com
+1(805) 568 7317

jim haught d d s opened an incorporated dental practice onjanuary 1 2014 during the 4283361

 

Jim Haught, D.D.S., opened an incorporated dental practice onJanuary 1, 2014. During the first month of operations, thefollowing transactions occurred.

1.

 

Performed services for patients who had dental plan insurance.At January 31, $940 of such services was completed but not yetbilled to the insurance companies.

2.

 

Utility expenses incurred but not paid prior to January 31totaled $530.

3.

 

Purchased dental equipment on January 1 for $86,150, paying$22,500 in cash and signing a $63,650, 3-year note payable(interest is paid each December 31). The equipment depreciates $420per month. Interest is $680 per month.

4.

 

Purchased a 1-year malpractice insurance policy on January 1for $12,000.

5.

 

Purchased $1,930 of dental supplies (recorded as increase toSupplies). On January 31, determined that $530 of supplies were onhand.

 

Prepare the adjusting entries on January 31

"Order a similar paper and get 15% discount on your first order with us
Use the following coupon
"GET15"

Order Now