J-1

Date Description P.R Debit Credit

October 1 Cash 110 250000
Marasigan, Capital 310 250000

Medical Building 160 1000000

Land 150 250000
Cash 110 50000
20% Notes Payable 220 1200000

Medical Equipment 170 420000

Medical Supplies 130 39000
Cash 110 59000
24% Notes Payable 210 400000

2 Prepaid Insurance 140 20000

Cash 110 20000

4 Cash 110 117000

Medical Revenues 410 117000

7 Medical Supplies 130 17000

Account Payable 230 17000

10 Salaries Expense 510 73000

Cash 110 73000

12 Cash 110 90000

Unearned Research Revenues 260 90000

18 Account Receivable 120 317000

Medical Revenues 410 317000

21 Repair Expense 530 23000

Cash 110 23000

23 Telephone Expense 560 3000

Cash 110 3000

24 Medical Equipment 170 45000

Account Payable 230 45000

25 Cash 110 113000

Account Receivable 120 113000
27 Account Payable 230 13000
Cash 110 13000

30 Marasigan, Withdrawals 320 200000

Cash 110 200000

Association Dues Expense 550 15000

Cash 110 15000
Cash
Date Explanations Ref. Debit
Oct. 1 Investment by Dr. Nick Marasigan, M D J-1 250000
1 Acquired Medical Clinic and Land J-1
1 Acquired Medical Equipment and Medical Supplies J-1
2 Acquired "all-in-one" Insurance J-1
4 Received from Patients J-1 117000
10 Paid Salaries of Nurses and Office Staff J-1
12 Received from the Laguna Experimental Drug Center J-1 90000
21 Paid for the Repairs to the Medical Equipment J-1
23 Paid the Telephone Bill J-1
25 Collected from Patients billed on Oct 18th J-1 113000
27 Paid on Account to San Pablo Supply J-1
30 Cash Withdrawal by Marasigan J-1
30 Paid dues to the Laguna Medical Association J-1

Accounts Receivable
Date Explanation Ref. Debit
Oct 18 Billed Patients for Services Rendered J-1 317000
Oct 25 Collected from Patients billed on Oct 18th J-1

Medical Supplies
Date Explanation Ref. Debit
Oct 1 Acquired Medical Supplies J-1 39000
Oct 7 Bought medical supplies from San Pablo J-1 17000

Prepaid Insurance
Date Explanation Ref. Debit
Oct 2 Acquired "all-in-one" Insurance J-1 20000

Land
Date Explanation Ref. Debit
Oct 1 Acquired Land J-1 250000

Medical Building
Date Explanation Ref. Debit
Oct 1 Acquired Medical Clinic J-1 1000000

Medical Equipment
Date Explanation Ref. Debit
Oct 1 Acquired Medical Equipment J-1 420000
24 Bought Medical Equipment from Dr. De Leon J-1 45000

24% Note Payable

Date Explanation Ref. Debit
Oct 1 Acquired Medical Equipment and Medical Supplies J-1

20% Note Payable

Date Explanation Ref. Debit
Oct 1 Acquired Medical Clinic and Land J-1

Accounts Payable
Date Explanation Ref. Debit
Oct 7 Bought medical supplies from San Pablo J-1
24 Bought Medical Equipment from Dr. De Leon J-1
27 Paid on Account to San Pablo Supply J-1 13000

Unearned Research Revenues

Date Explanation Ref. Debit
Oct 12 Received from the Laguna Experimental Drug Center J-1

Marasigan, Capital
Date Explanation Ref. Debit
Oct 1 Investment by Dr. Nick Marasigan, M D J-1

Marasigan, Withdrawals
Date Explanation Ref. Debit
Oct 30 Cash Withdrawal by Marasigan J-1 200000

Medical Revenues
Date Explanation Ref. Debit
Oct 4 Received from Patients J-1
Oct 18 Billed Patients for Services Rendered

Salaries Expense
Date Explanation Ref. Debit
Oct 10 Paid Salaries of Nurses and Office Staff J-1 73000

Repairs Expense
Date Explanation Ref. Debit
Oct 21 Paid for the Repairs to the Medical Equipment J-1 23000

Telephone Expense
Date Explanation Ref. Debit
Oct 23 Paid the Telephone Bill J-1 3000
 Account No. 110
Credit Balance
250000
50000 200000
59000 141000
20000 121000
238000
73000 165000
255000
23000 232000
3000 229000
342000
13000 329000
200000 129000
15000 114000

Account No. 120

Credit Balance
317000
113000 204000

Account No. 130

Credit Balance
39000
56000

Account No. 140

Credit Balance
20000

Account No. 150

Credit Balance
250000

Account No. 160

Credit Balance
1000000

Account No. 170

Credit Balance
420000
465000

Account No. 210

Credit Balance
400000 400000

Account No. 220

Credit Balance
1200000 1200000

Account No. 230

Credit Balance
17000 17000
45000 62000
49000

Account No. 260

Credit Balance
90000 90000

Account No. 310

Credit Balance
250000 250000

Account No. 320

Credit Balance
200000

Account No. 410

Credit Balance
117000 117000
317000 434000

Account No. 510

Credit Balance
73000

Account No. 530

Credit Balance
23000

Account No. 560

Credit Balance
3000
 Dr. Nick Marasigan, M.D.
Worksheet
October 31, 2018
Unadjusted Trial Balance Adjustments
Accounts Debit Credit Debit
Cash P 114,000
Accounts Receivable 204,000
Medical Supplies 56,000
Prepaid Insurance 20,000
Land 250,000
Medical Building 1,000,000
Accumulated Depreciation-Medical Building
Medical Equipment 465,000
Accumulated Depreciation-Medical Equipment
24% Note Payable P 400,000
20% Note Payable 1,200,000
Accounts Payable 49,000
Salaries Payable
Interest Payable
Unearned Research Revenues 90,000 P 30,000
Marasigan, Capital 250,000
Marasigan, Withdrawals 200,000
Medical Revenues 434,000
Research Revenues
Salaries Expense 73,000 51,000
Insurance Expense 1,666.67
Repairs Expense 23,000
Supplies Expense 35,000
Association Dues Expense 15,000
Telephone Expense 3,000
Depreciation Expense-Medical Building 5,000
Depreciation Expense-Medical Equipment 9,000
Interest Expense 28,000

Totals: P 2,423,000 P 2,423,000 P 159,666.67

Nick Marasigan, M.D.
Worksheet
October 31, 2018
Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Credit Debit Credit Debit Credit Debit Credit
P 114,000 P 114,000
204,000 204,000
P 35,000 21,000 21,000
1,666.67 18,333.33 18,333.33
250,000 250,000
1,000,000 1,000,000
5,000 P 5,000 P 5,000
465,000 465,000
9,000 9,000 9,000
400,000 400,000
1,200,000 1,200,000
49,000 49,000
51,000 51,000 51,000
28,000 28,000 28,000
60,000 60,000
250,000 250,000
200,000 200,000
434,000 P 434,000
30,000 30,000 30,000
124,000 P 124,000
1,666.67 1,666.67
23,000 23,000
35,000 35,000
15,000 15,000
3,000 3,000
5,000 5,000
9,000 9,000
28,000 28,000

P 159,666.67 P 2,516,000 P 2,516,000 P 243,666.67 P 464,000 P 2,272,333.33 P 2,052,000

220,333.33 220,333.33
Net Worth: P 464,000 P 464,000 P 2,272,333.33 P 2,272,333.33