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KUALITAS LABORATORY TRIAL BALANCE DECEMBER 31, 2020 CREDIT DEBIT 1,250 11,500 39,125 7,500 337,500 Cash Accounts Receivable Medical Supplies Prepaid Insurance Laboratory Equipment Accumulated Depreciation-Laboratory Equipment Accounts Payable Unearned Diagnostic Fees Kualitas, Capital Diagnostic Fees Income Salaries and Wages Expense Rent Expense TОTAL 75,000 3,875 5,000 137,500 275,500 72,500 27,500 496,875 496,875

KUALITAS LABORATORY TRIAL BALANCE DECEMBER 31, 2020 CREDIT DEBIT 1,250 11,500 39,125 7,500 337,500 Cash Accounts Receivable Medical Supplies Prepaid Insurance Laboratory Equipment Accumulated Depreciation-Laboratory Equipment Accounts Payable Unearned Diagnostic Fees Kualitas, Capital Diagnostic Fees Income Salaries and Wages Expense Rent Expense TОTAL 75,000 3,875 5,000 137,500 275,500 72,500 27,500 496,875 496,875

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following information is available for possible adjustments: 1. Accrued utilities expense as of December 31, 2020, P5,000. 2. Kualitas Laboratory provides diagnostic services to Kasa Clinic for a monthly fee of P7,500. Fees for the months of November and December were unpaid and unrecorded as of December 31, 2020. Accounts receivable should be recognized for this.
PROBLEM I KUALITAS LABORATORY TRIAL BALANCE DECEMBER 31, 2020 DEBIT 1,250 11,500 39,125 7,500 337,500 CREDIT Cash Accounts Receivable Medical Supplies Prepaid Insurance Laboratory Equipment Accumulated Depreciation-Laboratory Equipment Accounts Payable Unearned Diagnostic Fees Kualitas, Capital Diagnostic Fes Income Salaries and Wages Expense Rent Expense TOTAL 75,000 3,875 5,000 137,500 275,500 72,500 27,500 496,875 496,875
Transcribed Image Text:PROBLEM I KUALITAS LABORATORY TRIAL BALANCE DECEMBER 31, 2020 DEBIT 1,250 11,500 39,125 7,500 337,500 CREDIT Cash Accounts Receivable Medical Supplies Prepaid Insurance Laboratory Equipment Accumulated Depreciation-Laboratory Equipment Accounts Payable Unearned Diagnostic Fees Kualitas, Capital Diagnostic Fes Income Salaries and Wages Expense Rent Expense TOTAL 75,000 3,875 5,000 137,500 275,500 72,500 27,500 496,875 496,875
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