Professional Documents
Culture Documents
the general ledger, and prepare a t-accounts and trial the general ledger, and prepare a t-accounts and trial
balance. balance.
P. Moran began the practice of dentistry and P. Moran began the practice of dentistry and
completed the following transactions during November completed the following transactions during November
of the current year: of the current year:
November 1 – Began the practice by investing November 1 – Began the practice by investing
equipment worth P 50,000 and cash of P 25,000. equipment worth P 50,000 and cash of P 25,000.
2 – Paid the rent of the building, P 1000. 2 – Paid the rent of the building, P 1000.
` 3 – Paid the premium on insurance policy ` 3 – Paid the premium on insurance policy
taken out in the name of the business, P 550. taken out in the name of the business, P 550.
5 – Purchased dental supplies of P 1,450 and 5 – Purchased dental supplies of P 1,450 and
additional dental equipment P 6,500 from G. Liwag on additional dental equipment P 6,500 from G. Liwag on
credit. credit.
8 – Completed dental work to A. Moreno and 8 – Completed dental work to A. Moreno and
collected P 800 in full payment therefor. collected P 800 in full payment therefor.
15 – Paid the salary of the clerk receptionist, 15 – Paid the salary of the clerk receptionist,
P 750. P 750.
27 – Withdrew P 800 for personal living 27 – Withdrew P 800 for personal living
expenses. expenses.
30 – Billed L. Tolentino P 1,200 for dental 30 – Billed L. Tolentino P 1,200 for dental
services rendered. services rendered.
30 - Paid the salary of the clerk receptionist, 30 - Paid the salary of the clerk receptionist,
P 750. P 750.
30 - Paid the telephone bill, P 650. 30 - Paid the telephone bill, P 650.