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Prepare a schedule converts dr. dunbars excess

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Reference no: EM13513666

Corinne Dunbar, M.D., maintains the accounting records of Dunbar Clinic on a cash basis. During 2012, Dr. Dunbar collected $142,600 from her patients and paid $60,470 in expenses. At January 1, 2012, and December 31, 2012, she had accounts receivable, unearned service revenue, accrued expenses, and prepaid expenses as follows. (All long-lived assets are rented.) January 1, 2012 December 31, 2012 Accounts receivable $11,250 $15,927 Unearned service revenue 2,840 4,111 Accrued expenses 3,435 2,108 Prepaid expenses 1,917 3,232

Instructions

Prepare a schedule that converts Dr. Dunbar's "excess of cash collected over cash disbursed" for the year 2012 to net income on an accrual basis for the year 2012.

Reference no: EM13513666

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