Wizard Health Care Inc is owned and operated by Dr

Wizard Health Care, Inc., is owned and operated by Dr. Chandra Rains, the sole stockholder.
During January 2007, Wizard Health Care entered into the following transactions:Jan. 1
Received $8,100 from Goulash Company as rent for the use of a vacant office in Wizard Health
Care’s building. Goulash paid the rent six months in advance.1 Paid $3,600 for an insurance
premium on a one-year, general business policy.4 Purchased supplies of $950 on account.5
Collected $9,000 for services provided to customers on account.11 Paid creditors $1,600 on
account.18 Invested an additional $45,000 in the business in exchange for capital stock.20
Billed patients $24,800 for services provided on account.25 Received $6,800 for services
provided to customers who paid cash.29 Paid expenses as follows: wages, $12,600; utilities,
$3,500; rent on medical equipment, $2,700; interest, $250; and miscellaneous, $650.29 Paid
dividends of $2,000 to stockholders (Dr. Rains).InstructionsAnalyze and record the January
transactions for Wizard Health Care, Inc., using the integrated financial statement framework.
Record each transaction by date and show the balance for each item after each transaction.
The January 1, 2007, balances for the balance sheet are shownbelow.
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Wizard Health Care Inc is owned and operated by Dr
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