ASSIGNMENT 4:

Dr. Jonathan Alegre opened a medical clinic in Kapalong, Davao del Norte.

CHART OF ACCOUNTS

Assets Owner’s Equity

Cash on Hand J. Alegre, Capital
Accounts Receivable J. Alegre, Drawing
Unused Medical Supplies
Furniture and Fixtures Income
Medical Equipment Medical Fees Income

Liabilities Expenses
Accounts Payable Salaries Expense
Notes Payable Utilities Expense
Taxes and Licenses

Transactions:
2020
Sept. 1 Dr. Alegre invested cash amounting to P950,000 and a clinic furniture
worth P250,000.

2 Bought medical equipment on account from Manila Medical

Equipment Supply Company amounting to P750,000, paying
P200,000 and issued a note for the balance.

4 Bought medical supplies for cash, P100,000.

5 The doctor withdrew cash for his personal use, P15,000.

7 Medical fees income for the week:

Cash P50,000
On account 60,000

9 Dr. Alegre made an additional cash investment of P350,000.

11 Full payment of the note issued to Manila Medical Equipment Supply

Company, P550,000.
 14 Medical fees income earned for the week:
Cash P30,000
On account 10,000

15 Collected in full the patient’s accounts of Sept. 7, P60,000.

18 Bought medical supplies on account from AMESCO, P30,000.

28 Medical fees income for two weeks:

Cash P40,000
On Account 70,000

30 Paid the following expenses:

Taxes and Licenses P20,000
Salaries of Attendants 45,000
Utilities Expense 40,000

REQUIRED:

1. Determine the value received and the value parted with.

2. Prepare a transaction analyses worksheet using the given chart of
accounts.
3. With the aid of T-accounts, record the transactions listed above.
4. Prepare a trial balance.
ASSIGNMENT 4

Requirement 1
VALUE
VALUE
DATE 2020 AMOUNT PARTED AMOUNT
RECEIVED
WITH
Sep 01 Cash on Hand P 950,000 J. Alegre, P 1,200,000
Furniture and 250,000 Capital
Fixtures

02 Medical 750,000 Cash on Hand 200,000

Equipment Notes Payable 550,000

04 Unused 100,000 Cash on Hand 100,000

Medical
Supplies

05 J. Alegre, 15,000 Cash on Hand 15,000

Drawing

07 Cash on Hand 50,000 Medical Fees 110,000

Accounts 60,000 Income
Receivable

09 Cash on Hand 350,000 J. Alegre, 350,000

Capital

11 Notes Payable 550,000 Cash on Hand 550,000

14 Cash on Hand 30,000 Medical Fees 40,000

Accounts 10,000 Income
Receivable

15 Cash on Hand 60,000 Accounts 60,000

Receivable

18 Unused 30,000 Accounts 30,000

Medical Payable
Supplies
28 Cash on Hand 40,000 Medical Fees 110,000
Accounts 70,000 Income
Receivable

30 Taxes and 20,000 Cash on Hand 105,000

Licenses
Salaries 45,000
Expense
Utilities 40,000
Expense
 Requirement 2

Jonathan Alegre Medical Clinic

Transaction Analyses Worksheet
For the Mont of September

ASSETS LIABILITIES CAPITAL

Date Cash on Accounts Unused Furniture Medical Accounts Notes J. Alegre,
Hand Receivable Medical and Equipment Payable Payable Capital
Supplies Fixtures
01 + 950,000 + 250,000 + 1,200,000
02 -200,000 +750,000 +550,000
04 -100,000 +100,000
05 -15,000 -15,000
(Drawing)
07 + 50,000 + 60,000 + 110,000
(Medical Fees
Income)
09 + 350,000 + 350,000
(Investment)
11 -550,000 -550,000
14 + 30,000 + 10,000 + 40,000
(Medical Fees
Income)
15 + 60,000 -60,000
18 + 30,000 +30,000
28 + 40,000 +70,000 + 110,000
(Medical Fees
Income)
30 -105,000 -20,000
(Taxes and
Licenses)
-45,000
(Salaries
Expense)
-40,000
(Utilities
Expense)
__________ __________ ________ ________ __________ ________ _______ __________

P510,000 P80,000 P130,000 P250,000 P750,000 P30,000 P0 P1,690,000

P510,000+P80,000+P130,000+250,000+P750,000=P30,000+P0+P1,690,000

P1,720,000=P1,720,000

Requirement 3

CASH ON HAND
DR CR
2020
SEPT. 01 P950,000 SEPT. 02 P200,000
07 50,000 04 100,000
09 350,000 05 15,000
14 30,000 09 550,000
15 60,000 30 105,000
28 40,000

P1,480,000 P970,000
P510,000

ACCOUNTS RECEIVABLE
DR CR
2020
SEPT. 07 P60,000 SEPT. 15 P60,000
14 10,000
30 70,000

P140,000 P60,000
P80,000
 UNUSED MEDICAL SUPPLIES
DR CR
2020
SEPT. 04 P100,000
18 30,000

P130,000

FURNITURE AND FIXTURES

DR CR
2020
SEPT. 01 P250,000
 MEDICAL EQUIPMENT
DR CR
2020
SEPT. 02 P750,000

ACCOUNTS PAYABLE
DR CR
2020
SEPT. 18 P30,000

NOTES PAYABLE
DR CR
2020 2020
SEPT. 11 P550,000 SEPT. 02 P550,000

P0
 J. ALEGRE, CAPITAL
DR CR

2020
SEPT. 01 P1,200,000
09 350,000

P1,550,000

J. ALEGRE, DRAWING
DR CR
2020
SEPT. 05 P15,000

MEDICAL FEES INCOME

DR CR
2020
SEPT. 07 P110,000
14 40,000
28 110,000

P260,000
 SALARIES EXPENSE
DR CR
2020
SEPT. 30 P45,000

UTILITIES EXPENSE
DR CR
2020
SEPT. 30 P40,000

TAXES AND LICENSES

DR CR
2020
SEPT. 30 P20,000
 Jonathan Alegre Medical Clinic
Trial Balance
September 30, 2020

Cash on Hand P510,000

Accounts Receivable 80,000
Unused Medical Supplies 130,000
Furniture and Fixture 250,000
Medical Equipment 750,000
Accounts Payable P30,000
Notes Payable - -
J. Alegre, Capital 1,550,000
J. Alegre, Drawing 15,000
Medical Fees Income 260,000
Salaries Expense 45,000
Utilities Expense 40,000
Taxes and Licenses 20,000

P1,840,000 P1,840,000