Accrual basis accounting
Oasis Health Care Inc. is owned and operated by Dr. George Hancock, the sole stockholder.
During January 2013, Oasis Health Care entered into the following transactions:
Jan. 1 Received $15,000 from Rivers Company as rent for the use of a vacant office in Oasis Health Care’s building. Rivers paid the rent six months in advance.
1 Paid $4,200 for an insurance premium on a general business policy.
6 Purchased supplies of $1,800 on account.
9 Collected $27,500 for services provided to customers on account.
11 Paid creditors $3,000 on account.
18 Invested an additional $25,000 in the business in exchange for capital stock.
20 Billed patients $62,000 for services provided on account.
25 Received $12,900 for services provided to customers who paid cash.
30 Paid expenses as follows: wages, $24,000; utilities, $6,000; rent on medical equipment, $5,000; interest, $200; and miscellaneous, $2,500.
30 Paid dividends of $15,000 to stockholders (Dr. Hancock).
Instructions
Analyze and record the January transactions for Oasis 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, 2013, balances for the balance sheet are shown below.
Essay Writing Service Features
Our Experience
No matter how complex your assignment is, we can find the right professional for your specific task. Achiever Papers is an essay writing company that hires only the smartest minds to help you with your projects. Our expertise allows us to provide students with high-quality academic writing, editing & proofreading services.
Free Features
Free revision policy
$10Free bibliography & reference
$8Free title page
$8Free formatting
$8How Our Dissertation Writing Service Works
First, you will need to complete an order form. It's not difficult but, if anything is unclear, you may always chat with us so that we can guide you through it. On the order form, you will need to include some basic information concerning your order: subject, topic, number of pages, etc. We also encourage our clients to upload any relevant information or sources that will help.
Complete the order form
Once we have all the information and instructions that we need, we select the most suitable writer for your assignment. While everything seems to be clear, the writer, who has complete knowledge of the subject, may need clarification from you. It is at that point that you would receive a call or email from us.
Writer’s assignment
As soon as the writer has finished, it will be delivered both to the website and to your email address so that you will not miss it. If your deadline is close at hand, we will place a call to you to make sure that you receive the paper on time.
Completing the order and download