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Mba 503 Case 1.1

In: Business and Management

Submitted By Seansouthy222
Words 1949
Pages 8
Sean Murphy MBA503
Case1.1
Required 1:
(1) Journal Entry
July1, 2009 Cash (+A)………………………… $125,000 Common Stock (+SE)……........... $125,000
July1, 2009 Legal Fees Expense (+E, -SE)….….. 2,500 Cash (-A).......……....… 2,500
July1, 2009 Equipment (+A) ………………….. 90,000 Cash (-A)……….……….... 90,000
July1, 2009 Rent Expense (+E, -SE) ..…………….. 5,000 Rent Payable (-A)………….. 5,000
July31, 2009 Account Receivable (+A)…..…………. 18,500 Revenues (+R, +SE)………………… 18,500
July31, 2009 Drugs and Medical Expense (+E, -SE)……1,500 Accounts Payable (-A)……... 1,500
July31, 2009 Office Supply Expense (+E, -SE) ..………. 500 Accounts Payable (-A)…. 500
July31, 2009 Wages Expense (+E, -SE) …………….. 13,750 Wages Payable (-A)………. 13,750

(2)Income Statement
Dublin Small Animal Clinic, Inc.
Income Statement
For the month of July 2009
Operating Revenues:
Services Revenues $18,500 Total revenues $18,500
Operating Expenses:
Wages expense $13,750
Rent expense 5,000
General and Administrative Expenses 2,500
Drug and Medical Expense 1,500
Office Supplies Expense…...

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