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    Coc Model Level Ivpractical: Solution

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    Aye Tube
    The document describes transactions in November 2018 for Family Health Care. It lists receipts of $1,800 in rent, $5,500 from patients paying cash, and $4,200 from insurance payments. It also lists expenses paid for supplies, equipment, insurance premiums, wages, rent, utilities, interest, and miscellaneous costs. The owner invested an additional $5,000 in the business.

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    Coc Model Level Ivpractical: Solution

    Uploaded by

    Aye Tube
    61 views2 pages
    The document describes transactions in November 2018 for Family Health Care. It lists receipts of $1,800 in rent, $5,500 from patients paying cash, and $4,200 from insurance payments. It also lists expenses paid for supplies, equipment, insurance premiums, wages, rent, utilities, interest, and miscellaneous costs. The owner invested an additional $5,000 in the business.

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    4_5819137767854049916

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    The document describes transactions in November 2018 for Family Health Care. It lists receipts of $1,800 in rent, $5,500 from patients paying cash, and $4,200 from insurance payments. It also lists expenses paid for supplies, equipment, insurance premiums, wages, rent, utilities, interest, and miscellaneous costs. The owner invested an additional $5,000 in the business.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    61 views2 pages

    Coc Model Level Ivpractical: Solution

    Uploaded by

    Aye Tube
    The document describes transactions in November 2018 for Family Health Care. It lists receipts of $1,800 in rent, $5,500 from patients paying cash, and $4,200 from insurance payments. It also lists expenses paid for supplies, equipment, insurance premiums, wages, rent, utilities, interest, and miscellaneous costs. The owner invested an additional $5,000 in the business.

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    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
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    of 2

    COC MODEL LEVEL IVPRACTICAL

    To illustrate the accrual basis of accounting,assume family Health


    care owned by Dr.Amir has the following previous data,cash was
    Br 7,320 land 12,000 Br Note payable 10,000 Br &Dr.Amir,capital
    6,000Br we will use the Nov 2018 transactions of family health
    care as follows:
    A On Nov 1, received 1,800Br from ABC Company as rent
    For the use of family health care’s land land as a
    temporary parking lot from Nov 2018 through March 2019
    B On Nov 1 paid 2,400 Br for an insurance premium on a
    two year,general business policy
    C On Nov 1, paid 6,000 Br for an insurance premium on a
    six-month medical malpractice policy
    D Dr. Amir invested an additional 5,000 Br in the business
    E Purchased supplies for 240 Br on account
    F Purchased 8,500 Br of office equipment.paid 1,700 Br cash
    as a down payment,with the remainder due in five monthly
    installment of 1,360 Br beginning Dec 1
    G Provided services of 6,100 Br to patient on account.
    H Received 5,500 Br for services provided to patients who
    paid cash
    I Received 4,200 Br from insurance companies,which paid
    on patients accounts for services that have been provided
    J Paid 100 Br on account for supplies that had been
    purchased
    K Expenses paid during Nov were as follows: wages 2,790
    Br
    rent 800 Br utilities 580 Br interest 100 Br miscellaneous
    420 Br
    Solution
    A Cash..................................1,800
    Unearned revenue....................1,800
    B Prepaid insurance...............2,400
    Cash....................................2,400
    C prepaid insurance..........6,000
    Cash....................................6,000
    D Cash...........................5,000
    Dr. Amir capital....................5,000
    E Supplies.......................240
    A/p.........................................240
    F Office equipment.........8,500
    N/p.........................................6,800
    Cash......................................1,700
    G A/R..............................6,100
    Fees earned............................6,100
    H Cash..............................5,500
    Fees earned.........................5,500
    I Cash...............................4,200
    A/R.....................................4,200
    J A/P...............................100
    Cash.....................................100
    K Wages expense...............2,790
    Rent expense.................800
    Utilities expense............580
    Interest expense.............100
    Miscellaneous expense..420
    Cash.................................4,690

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