Financial Accounting: An Integrated Statements Approach, 2nd Edition

182 Chapter 4 Accounting Information Systems

Hearts, P.C.

Adjusted Trial Balance

April 30, 2007

Debit Credit

Balances Balances

Cash 2,361

Accounts Receivable 8,095

Supplies 185

Prepaid Insurance 400

Equipment 22,995

Accumulated Depreciation 3,180

Accounts Payable 810

Salary Payable 300

Capital Stock 10,000

Retained Earnings 17,483

Dividends 1,250

Professional Fees 8,240

Salary Expense 2,025

Rent Expense 800

Laboratory Expense 545

Insurance Expense 435

Utilities Expense 360

Supplies Expense 350

Depreciation Expense 80

Miscellaneous Expense 132

40,013 40,013

Hearts, P.C.

Income Statement

For the Month Ended April 30, 2007

Professional fees $8,240

Operating expenses:

Salary expense $2,025

Rent expense 800

Laboratory expense 545

Insurance expense 435

Utilities expense 360

Supplies expense 350

Depreciation expense 80

Miscellaneous expense 132

Total operating expenses 4,727

Net income $3,513

7.

6.

d. Depreciation Expense 80

Accumulated Depreciation 80

e. Salary Expense 300

Salary Payable 300

SCF BS IS

—ATSET Ec

—LcSET Ec