ACCT 504 help A Guide to career/uophelp.com ACCT 504 help A Guide to career/uophelp.com | Page 47

This Tutorial contains Excel Files which can be used to solve for any
values (your Question may have different company name or values,
but that can be solved using Excel file)
E2-17A
Dr Anna Grayson opened a medical practice specializing in physical
therapy. During the first month of operation (May), the business, titled.
Anna Grayson, Professional Corporation (P.C.), experienced the
following events:
1.
Record the transactions in the journal of
Dr. Anna Grayson, P.C. List the transactions by date and give an
explanation for each transaction
6
Grayson invested $138,000 in the business, which in turn issued
its common stock to her.
9
The business paid cash for land costing $63,000.
Grayson plans to build an office building on the land.
12
The business purchased medical supplies for $1,500 on account.
15
Dr. Anna
P.C., officially opened for business.
15-31
During the rest of the month,
Grayson
treated patients and earned service revenue of
$9,400,
receiving cash for half the revenue earned.
15-31
The business paid cash expenses: employee salaries,
$2,800;
office rent,
$ 900$900;
utilities,