Listed below are the transactions of Rock Medical Company (aservice company organized as a corporati

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Listed below are the transactions of Rock Medical Company (aservice company organized as a corporation), for the month ofMarch. Record the following transactions for Rock MedicalCompany. Mar    1       Jim Rockinvests $50,000 cash in exchange for common stock in                  Rock Medical Company.          1      Takes out a $5,000, 30-day short term notepayable with an annual                  interest rate of6%.          1      Purchases medical equipment on account from JKEnterprises                  for $22,800.          3      Pays rent for office space, $1,500 for themonth.          3      Employs a receptionist, Michelle Kwin.          4     Purchases medical supplies for cash,$1,165.          10     Receives cash of $850 from patients forservices performed.          15     Bills patients $11,560 for servicesperformed.          21     Pays JK Enterprises on account,$7,600.          26     Receives $2,600 from patients onaccount.         30      Bills patients $6,890 for servicesperformed.         31      Pays the following expenses incash: Salaries and                  wages $2,500; miscellaneous office expenses $910.          31     Pays principal and interest on the notepayable.          31     Medical supplies used during the month,$695.          31    Record depreciation expense on the equipmentusing the straight line                  method; the equipment has a 5-year life and no salvage value.          31    Record utility expense of $200 incurred for themonth; bill not                  paid at month end Chart of Accounts: Cash Accounts Receivable Supplies Equipment Accumulated Depreciation—Equipment Accounts Payable Notes Payable (short term) Common Stock Note Payable Service Revenue Rent Expense Office Expense Salaries and Wages Expense Supplies Expense Depreciation Expense Interest Expense Utility Expense Income Summary Instructions (a) Prepare journal entries to record the abovetransactions for Rock Medical Company; journal entries canbe hand written or typed in Word/Excel; put on a separatepage(s). (b) Enter the transactions shown abovein appropriate general ledger accounts (use T-accounts);t-accounts can be hand written; put on a separate page from journalentries prepared in (a). (c) Prepare a trial balance in EXCEL; useformulas to total the debits and credits; PRINT on one page. (d) Prepare an income statement, a statement of retainedearnings, and an unclassified balance sheet in EXCEL; useformulas as appropriate; PRINT each on a SEPARATE page (e) Prepare closing entries and enter the transactionsin the T-accounts (from part (b); journal entries can behandwritten or typed in Word/Excel; put on a separate page(s). (f) Prepare a post-closing trial balance inEXCEL; use formulas to total the debits and credit; PRINTon one page . . .

 
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