Reference no: EM132794024
1- On Nov. 1. Dr. Maryam (sole owner) invested cash amounting to $2,000,000 and a clinic furniture worth $1,200,000.
2- Bought medical equipment on account from M.R Medical Equipment Supply Company amounting to $750,000 paying $200,000 and issued a note for the balance.
3- Bought medical supplies for cash, $ 100,000.
4- The doctor withdrew for his personal use, $ 15,000.
5- Paid rent expense in advance $15,000.
6- Medical fees income earned for the week (Cash $50,000 and on Account $60,000).
7- Dr. Maryam. Made an additional cash investment of $350,000.
8- Full payment of the note issued to M.R Medical Equipment Supply Company $550,000.
9- Bought a brand new vehicle to be used as ambulance car $2,000,000.
10- Paid advertisement expenses in cash $20,000.
11- Medical fees earned for the week (Cash, $30,000, on Account $ 10,000)
12- Collected in full the patient's accounts of Nov. 5, $60,000.
13- Bought medical supplies on account from Amesco, $30,000
14- Travelled to Davao City to attend conference at Davao Medical School Foundation, Inc. $3,500.
15- Medical Fees income for two weeks: (Cash $40,000 On Account $ 70,000)
16- Brought a patient to Southern Philippines Medical Center and incurred expenses of $4,300.
17- Pick up a patient in Asuncion, Davao del Norte for confinement at the clinic, $900.
18- Bought medical equipment on account from M.R Medical Equipment Supply Company amounting to $50,000 paying $20,000 and issued a note for the balance.
19- Dr. Maryam paid cash for insurance $ 40,000.
20- Goods worth $1000 given as charity.
21- The doctor withdrew for his personal use, $ 10,000.
22- bought another new ambulance car on account $1,700,000.
23- Gave free medical services for advertisement cost $25,000.
24- Paid telephone expense in cash $7,000.
25- Sales furniture of worth $200,000 received $150,000 cash and $50,000 on account.
26- Earned medical fees for the week (cash $35,000 and on account $60,000).
27- Received reaming cash of previously sold furniture $50,000.
28- Paid Taxes and Licenses expenses $20,000.
29- Paid cash for another ambulance car taking on account $1,700,000.
30- Paid the following expenses: Salaries and Attendants $45,000, Utilities Expense, $40,000 (light and water).
Required:
Problem 1- Record these trasections in journal proper format. (answer must be in MS Word)
Problem 2- post them into ledger proper format.(Answer must be in MS Word).