Dr. Nick Marasigan, M.D.
Dr. Nick Marasigan, M.D.
Dr. Nick Marasigan, M.D.
General Ledger
For the month ended October 31, 2021
₱ 1,667 ₱ 1,667
₱ 35,000 ₱ 35,000
₱ 5,000 ₱ 5,000
₱ 5,000 ₱ 5,000
₱ 9,000 ₱ 9,000
₱ 9,000 ₱ 9,000
₱ 30,000 ₱ 30,000 ₱ 30,000
₱ 51,000 ₱ 51,000
₱ 28,000 ₱ 28,000
₱ 28,000 ₱ 28,000
₱ 159,667 ₱ 2,472,667 ₱ 2,472,667 ₱ 263,667 ₱ 524,000 ₱ 2,209,000
₱ 260,333
₱ 524,000 ₱ 524,000 ₱ 2,209,000
Balance Sheet
Credit
₱ 250,000
₱ 1,200,000
₱ 400,000
₱ 4,000
₱ 1,667
₱ 5,000
₱ 9,000
₱ 51,000
₱ 28,000
₱ 1,948,667
₱ 260,333
₱ 2,209,000
Dr. Nick Marasigan, M.D.
Statement of Comprehensive Income
For the month ended October 31, 2021
Revenues
Medical Revenues ₱ 434,000
Unearned Research Revenues ₱ 60,000
Research Revenues ₱ 30,000
Total ₱ 524,000
Expenses
Insurance Expense ₱ 21,667
Salaries Expense ₱ 124,000
Repairs Expense ₱ 23,000
Telephone Expense ₱ 3,000
Association Dues Expense ₱ 15,000
Medical Supplies Expense ₱ 35,000
Depreciation Expense - Building ₱ 5,000
Depreciation Expense - Equipment ₱ 9,000
Interest Expense ₱ 28,000
Total ₱ 263,667
Profit ₱ 260,333
Dr. Nick Marasigan, M.D.
Statement of Changes in Equity
For the month ended October 31, 2021
ASSETS
Current Assets
Cash ₱ 69,000
Accounts Receivable ₱ 204,000
Medical Supplies ₱ 21,000
Prepaid Insurance ₱ 1,667
Total Current Assets ₱ 295,667
Noncurrent Assets
Medical Building ₱ 1,000,000
Land ₱ 250,000
Medical Equipment ₱ 465,000
Total Noncurrent Assets ₱ 1,715,000
Less: Accumulated Depreciation - Building ₱ 5,000
Accumulated Depreciation - Equipment ₱ 9,000
Total Assets ₱ 1,996,667
LIABILITIES
Current Liabilities
20% Notes Payable ₱ 1,200,000
24% Notes Payable ₱ 400,000
Accounts Payable ₱ 4,000
Accrued Expense ₱ 51,000
Interest Payable ₱ 28,000
Total Current Liabilities ₱ 1,683,000
OWNER'S EQUITY
Marasigan, Capital ₱ 250,000
Total Liabilities & Owner's Equity ₱ 1,933,000
Cash ₱ 69,000
Accounts Receivable ₱ 204,000
Medical Supplies ₱ 21,000
Prepaid Insurance ₱ 1,667
Medical Building ₱ 1,000,000
Land ₱ 250,000
Medical Equipment ₱ 465,000
Accumulated Depreciation - Building ₱ 5,000
Accumulated Depreciation - Equipment ₱ 9,000
20% Notes Payable ₱ 1,200,000
24% Notes Payable ₱ 400,000
Accounts Payable ₱ 4,000
Accrued Expense ₱ 51,000
Interest Payable ₱ 28,000
Unearned Research Revenues ₱ 60,000
Marasigan, Capital ₱ 250,000
₱ 2,010,667 ₱ 2,007,000
₱ 1,834
2021
Oct 31 Medical Revenues 410 ₱ 434,000
Unearned Research Revenues 260 ₱ 60,000
Research Revenues 420 ₱ 30,000
Income Summary 330 ₱ 524,000
2021
Oct 31 Income Summary 330 ₱ 263,667
Insurance Expense 520 ₱ 21,667
Salaries Expense 510 ₱ 124,000
Repairs Expense 530 ₱ 23,000
Telephone Expense 560 ₱ 3,000
Association Dues Expense 550 ₱ 15,000
Medical Supplies Expense 130 ₱ 35,000
Depreciation Expense - Building 570 ₱ 5,000
Depreciation Expense - Equipment 580 ₱ 9,000
Interest Expense 590 ₱ 28,000
2021
Oct 31 Income Summary 590 ₱ 260,333
Marasigan, Capital ₱ 260,333