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    Assignment

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    Welday Gebremichael
    Yusuf owns a new dental clinic and is preparing the monthly financial statements for August 2019. There were several unrecorded business transactions during the month, including Yusuf investing 50,000 Br, purchasing equipment for 17,280 Br, and paying various operating expenses. Revenues of 8,620 Br were generated from patient services during August.

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    Assignment

    Uploaded by

    Welday Gebremichael
    100 views1 page
    Yusuf owns a new dental clinic and is preparing the monthly financial statements for August 2019. There were several unrecorded business transactions during the month, including Yusuf investing 50,000 Br, purchasing equipment for 17,280 Br, and paying various operating expenses. Revenues of 8,620 Br were generated from patient services during August.

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    Yusuf owns a new dental clinic and is preparing the monthly financial statements for August 2019. There were several unrecorded business transactions during the month, including Yusuf investing 50,000 Br, purchasing equipment for 17,280 Br, and paying various operating expenses. Revenues of 8,620 Br were generated from patient services during August.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    100 views1 page

    Assignment

    Uploaded by

    Welday Gebremichael
    Yusuf owns a new dental clinic and is preparing the monthly financial statements for August 2019. There were several unrecorded business transactions during the month, including Yusuf investing 50,000 Br, purchasing equipment for 17,280 Br, and paying various operating expenses. Revenues of 8,620 Br were generated from patient services during August.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    Yusuf is the new owner of Dental clinic.

    At the end of August 2019, his first month of


    ownership, Yusuf is trying to prepare monthly financial statements. Below is some
    information related to unrecorded transactions that the business incurred during August.
    August. 1 Yusuf begins practice as a dentist and invests Br.50,000 cash.
    2 Purchases equipment on account from Ture Co. for Br.17,280.
    4 Pays rent for office space, Br.680 for the month.
    4 Employs a receptionist, Lemlem.
    5 Purchases supplies for cash, Br.942.
    8 Receives cash of Br.1,690 from patients for services performed.
    10 Pays miscellaneous office expenses, Br.430.
    14 Bills patients Br.5,820 for services performed.
    18 Pays Ture Co. on account, Br.3,600.
    19 Withdraws Br.3,000 cash from the business for personal use.
    20 Receives Br.980 from patients on account.
    25 Bills patients Br.2,110 for services performed.
    30 Pays the following expenses in cash: office salaries Br.1,800; miscellaneous
    office expenses Br.85.
    30 Dental supplies used during September, Br.330.
    31. Owed his employees Br.2,900 in salaries and wages that will be paid on
    September 1.
    31. He had not yet received the month’s utility bill. Based on past experience,
    he estimated the bill would be approximately Br.600.
    31. A telephone bill in the amount of Br.117 covering August charges is unpaid
    at August 31.
    Instructions
    (a) For the above transactions pass the necessary journal entries and post to their
    edger accounts.
    .

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