Simple Accounting Worksheet For Midwives Page 6
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21Instructions: Simple Accounting Worksheet
Examples to learn from
Follow the examples below of two midwives, and their businesses, to better
understand how this Simple Accounting Worksheet can be used. As you read
each thing that happens in their businesses, try to find where these transactions
are entered on the Simple Accounting Worksheet.
At the end of each example, look at the Income Statement, Balance Sheet and
Cash Flow Statements.
Check and see of you can find where the information
comes from in each example. Ask yourself: which business is doing better?
Example 1: Lourdes Uses the Simple Accounting Worksheet
Lourdes is a midwife who has just started her own private midwife practice from a
home-based practice. She named her business “Our Lady of Lourdes Maternal
Care Center.”
Some of the business transactions she encountered during her first days of
operations are listed below. See how the following transactions are recorded on
the Simple Accounting Worksheet.
1.
Lourdes invested in her private midwife practice personal savings
amounting to P60,000. This was on June 1.
2.
On June 2, Lourdes purchased medical equipment from Leo’s Medical
Inc. located at Caloocan City amounting to P30,000 paid only half of the
amount and promised to pay the other half after one month. It was
estimated that the medical equipment will be used for 10 years.
3.
Lourdes purchased on cash, 80 pieces family planning supplies for sale
at P7 each or a total of P560 on June 3.
4.
On June 4, she also purchased on cash, medicines to be used in
deliveries amounting to P1,500.
5.
On June 5, a client came and purchased on cash, two (2) family
planning products at P10 each or a total sales of P20. The cost of each
family planning product is P7/ each or total of P14.
6.
On June 6, a mother named Linda Cabrera who is living at San Juan,
Manila came and gave birth at Lourdes’s clinic, Lourdes charged the
patient professional fee of P2,500. Medicines used for this delivery
amounted to P680. Linda did not pay anything and promised to return
after a week to pay her obligations.
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