DR. NICK MARASIGAN, M.D.

GENERAL JOURNAL
DATE ACCOUNT TITLE AND EXPLANATION P.R. DEBIT CREDIT
2021
OCTOBER
1 Cash 110 250,000
Marasigan, Capital 310 250,000
To record Investment
1 Medical Building 160 1,000,000
Land 150 250,000
Cash 110 50,000
20% Notes Payable 220 1,200,000
To record Acquired medical building and
land on account
1 Medical Equipment 170 420,000
Medical Supplies 130 39,000
Cash 110 59,000
24% Notes Payable 210 400,000
To record Acquired medical equipment
and medical supplies on account
2 Prepaid Insurance 140 20,000
Cash 110 20,000
To Acquired insurance for a year
4 Cash 110 117,000
Medical Revenues 410 117,000
To Received cash for service rendered.
7 Medical Supplies 130 17,000
Accounts Payable 230 17,000
To record Acquired medical supplies
on account
10 Salaries Expense 510 73,000
Cash 110 73,000
To record Paid salaries expense
12 Cash 110 90,000
Unearned Research Revenue 260 90,000
To record Receive Cash for services
to be conducted in the future.
18 Accounts Receivable 120 317,000
Medical Revenue 410 317,000
To record Billed patients for
services rendered.
21 Repairs Expense 530 23,000
Cash 110 23,000
To record Paid repairs expense.
23 Telephone Expense 560 3,000
Cash 110 3,000
To record Paid telephone bill.
24 Medical Equipment 170 45,000
 Accounts Payable 230 45,000
To record Acquired medical equipment
on account.
25 Cash 110 113,000
Accounts Receivable 120 113,000
To record Collecting of accounts
receivable
27 Accounts Payable 230 13,000
Cash 110 13,000
To record Payment of Liabilities.
30 Marasigan, Withdrawals 320 200,000
Cash 110 200,000
To record Withdrawal.
30 Association Dues Expense 550 15,000
Cash 11o 15,000
To record Paid association dues
expense
30 Insurance Expense 520 1,666.67
Prepaid insurance 140 1,666.67
Insurance for one month has expired.
30 Supplies Expense 540 35,000
Medical Supplies 130 35,000
Expired medical supplies.
30 Depreciation Expense-Medical Building 570 5,000
Accumulated Depreciation-Medical 165 5,000
Building
Depreciation of medical building.
30 Depreciation Expense-Medical Equipment 580 9,000
Accumulated Depreciation-Medical 175 9,000
Equipment
Depreciation of medical equipment
30 Unearned Research Revenues 260 30,000
Research Revenues 420 30,000
Unearned revenues.
30 Salaries Expense 510 51,000
Salaries Payable 240 51,000
Accrued salaries
30 Interest Expense 590 28,000
Interest Payable 250 28,000
Accrued interest
30 Medical Revenues 410 434,000
Research Revenues 420 30,000
Income Summary 430 464,000
 GENERAL LEDGER
Account: CASH Account No. 110
DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/01/21 J-1 250,000
10/01/21 J-1 50,000
10/01/21 J-1 59,000
10/02/21 J-1 20,000
10/04/21 J-1 117,000
10/12/21 J-1 90,000
10/21/21 J-1 23,000
10/23/21 J-1 3,000
10/25/21 J-2 113,000
10/27/21 J-2 13,000
10/30/21 J-2 200,000
10/30/21 J-2 15,000
570,000 456,000
BALANCE 114,000

Account: ACCOUNT RECEIVABLE Account No.120

DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/18/21 J-1 317,000
10/25/21 J-2 113,000
BALANCE 204,000

Account: MEDICAL SUPPLIES Account No. 120

DATE EXPLATION J.R. DEBIT CREDIT BALANCE
10/01/21 J-1 39,000
10/07/21 J-1 17,000
10/30/21 J-2 35,000
BALANCE 56,000

Account: PREPAID INSURANCE Account No.140

DATE EXPLATION J.R. DEBIT CREDIT BALANCE
10/02/21 J-1 20,000
10/30/21 J-2 1,666,67
BALANCE 18,333.333

Account: LAND Account No.150

DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/01/21 J-1 250,000
BALANCE 250,000
 Accounting: MEDICAL BUILDING Account No,160
DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/01/21 J-1 1,000,000
BALANCE 1,000,000

Account: SCCUMULATED Account No.165

DEPRECIATION-MEDICAL BUILDING
DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/30/21 adjustment J-2 5,000
BALANCE 5,000

Account: MEDICAL EQUIPMENT Account No.170

DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/01/21 J-1 420,000
10/24/21 J-1 45,000
BALANCE 465.000

Account: ACCUMULATED Account No. 175

DEPRECIATION-MEDICAL EQUIPMENT
DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/30/21 adjustment J-2 9,000
BALANCE 9,000

Account: 24% NOTES PAYABLE Account No.210

DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/01/21 adjustment J-1 400,000
BALANCE 400,000

Account: 20% NOTES PAYABLE Account No. 220

DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/01/21 J-1 1,200,000
1,200,000

Account: ACCOUNTS PAYABLE Account No.230

DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/07.21 J-1 17,000
10/24/21 J-1 45,000
10/27/21 J-2 13,000
BALANCE 49,000
 Account: SALARIES PAYABLE Account No. 240
DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/30/21 adjustment J-2 51,000
BALANCE 51,000

Account: INTEREST PAYABLE Account No. 250

DATE EXPLANATION J.R. DEBIT CEDIT BALANCE
10/30/21 adjustment J-2 28,000
28,000

Account: UNEARNED RESEARCH Account No.260

REVENUES
DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/12/21 J-1 90,000
BALANCE 90,000
10/30/21 adjustment 30,000
BALANCE 60,000

Account: MARASIGAN, CAPITAL Account No. 310

DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/01/21 J-1 250,000
BALANCE 250,000
BEG. BALANCE 250,000
10/30/21 CLOSING J-3 220,333.333
470,333.333
10/30/21 CLOSING J-3 200,000
BALANCE 270,333.333

Account: MARASIGAN, WITHDRAWALS Account No.320

DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/30/21 J-2 200,000
BALANCE 200,000

Account: INCOME SUMMARY Account No. 330

DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/30/21 CLOSING J-3 243,666.67
CLOSING J-3 220,333.33
CLOSING J-2 464,000
BALANCE 464,000

Account: MEDICAL REVENUES Account No.410

DATE EXPLANATION J.R, DEBIT CREDIT BALANCE
10/04/21 J-1 117,000
10/18/21 J-1 317,000
BALANCE 434,000
10/30/21 CLOSING J-2 434,000
0

Account: RESEARCH REVENUES Account No. 420

DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/30/21 J-2 30,000
BALANCE 30,000
CLOSING 30,000
0

Account: SALARIES EXPENSE Account No. 510

DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/10/21 J-1 73,000
BALANCE 73,000
BEG.BALANCE 73,000
10/30/21 ADJUSTMENT J-2 51,000
BALANCE 124,000
10/30/21 CLOSING 124,000
BALANCE 0

Account: INSURANCE EXPENSE Account No. 520

DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/30/21 adjustment J-2 1,666.67
10/30/21 closing J-3 1,666.67
0

Account: REPAIRS EXPENSE Account No. 530

DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/21/21 J-1 23,000
BALANCE 23,000
10/30/21 CLOSING J-3 23,000
0

Account: SUPPLIES EXPENSE Account No.540

DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/30/21 adjustment J-2 35,000
10/30/21 CLOSING J-3 35,000
0

Account: ASSOCIATION DUES EXPENSE Account No. 550

DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/30/21 J-2 15,000
BALANCE 15,000
BEG. BALANCE 15,000
10/30/21 CLOSING J-3 15,000
0

Account: TELEPHONE EXPENSE Account No. 560

DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/23/21 J-1 3,000
BALANCE 3,000
BEG. BALANCE 3,000
10/30/21 CLOSING J-3 3,000
BALANCE 0

Account: DEPRECIATION EXPENSE- Account No.570

BUILDING
DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/30/21 adjustment J-2 5,000
10/30/21 CLOSING J-3 5,000
0

Account: DEPRECIATION EXPENSE- Account No.580

EQUIPMENT
DATE EXPLANATION J.R. DEBIT CREDIT BALANCE
10/30/21 adjustment J-2 9,000
10/30/21 CLOSING J-3 9,000
0

Account: INTEREST EXPENSE Account No. 590

DATE EXPLANATINO J.R. DEBIT CREDIT BALANCE
10/30/21 adjustment J-2 28,000
10/30/21 CLOSING J-3 28,000
0