Reference no: EM132779221

Transactions for December:

1. Received cash of $1,900 from patients for services provided on account during November.

2. Provided services of $10,800 on account.

3. Received $6,500 for services provided for patients who paid cash.

4. Purchased supplies on account, $400

5. Received $6,900 from insurance companies that paid on patients' accounts for services that had been previously billed.

6. Paid $310 on account for supplies that had been purchases.

7. Expenses paid during December were as follows: wages, $4,200, including $220 accrued at the end of November; rent, $800; utilities, $610; interest, $100; and miscellaneous, $520. Of the $4,200 wages paid includes wages of $220 that were accrued at the end of November. Thus, only $3,980 should be recorded as wages expense for December.

8. Paid dividends of $1,200 to stockholders (Dr. Landry).

Adjustments for December:

a. Prepaid insurance that expired during the month, $1,100

b. Supplies used, $275.

c. Depreciation on office equipment, $160.

d. Unearned revenue earned, $360.

e. Wages owed employees but not paid, $340.

f. Services provided but not billed to insurance companies, $1,050.

Beginning balances on 12/1:

Cash= $7730

A/R= $2650

prepaid insurance= $7300

supplies= $90

Equipment= $8500

A/D -$160

Land= $12000

=

N/P= $16,800

A/P $140

Wages Payable= $220

Unearned Revenue= $1440

CS= $11,000

R/E= $8510

Problem 1: what is Income Statement for December

Problem 2: What is Statement of Retained Earnings for December

Problem 3: What is Balance Sheet as of 12/31