Reference no: EM131804777

Problem

Dr. Lissandra opened a dental clinic in Tacloban City.

TRANSACTIONS'

Mar 1;2016 the doctor invested cash P100,000 and clinic furniture worth P75,000.

March 2; Bought dental electrical equipment on account from cebu dental Equipment Co, P45,000 and made a downpayment of P10,000.

March 4; Bought dental supplies on account from Davao Dental clinic, P6,000.

March 5; Bought office supplies on account from KCC INc, P2,500.

March 14; dental fees income on accounts P32,000;on cash P32,000.

March 15; the doctor withdrew P5,000 for his personal use.

March 15; Paid salary of his clinic attendant salary P5,000 less deductions; SSS P133.40, Philhealth P50.00 ; netpayroll P4,816.70

March 19; collected from patients account of March 14, P12,000

March 20; partial payment of march 2 account with cebu dental equipment co, P15,000.

March 25; PAid full amount with KCC inc, P2,500.

March 29; paid clinic space rental of P 1,500.

March 30; employers share on SSS P425.40 and philhealth P100.00

Data for adjustments '

1. provision for allowance for bad debts should be set up to 25% of the outstanding receivable account.

2.unpaid light P650

3.on march 30, 2016, unpaid salaries as follows salaries 5,000 less deductions sss 133.30 philhealth 50.00 netpayroll P4,816.70

4. unrecorded depreciation at the end of the month is P5,000.

5.office supplies were found to be on hand is P1,000.00

6. dental supplies were found to be on hand is P3,000.

Requirements;

Prepare the following

1.journal entry

2.ledger

3.trial balance

4.adjusting entries

5.worksheet(10columns)

6.financial statements

7.closing entries

8.post-closing trial balance.