Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1) Enter fhe transactions shown above in appropriate general ledger accounts( T-accounts) . Do not use drawing accounts. 2)Prepare a trial balance 3) prepare an

1) Enter fhe transactions shown above in appropriate general ledger accounts( T-accounts) . Do not use drawing accounts.
2)Prepare a trial balance
3) prepare an income statement
4) prepare a statement of owners equity
5) prepare an unclassified balance sheet
6) close the ledger
7) prepare a post- closing trial balance image text in transcribed
Practice Assignment Gradebook ORION Downloadable eTextbook ssignment CALCULAT Problem 3-1 Listed below are the transactions of Alan Kawabata, D.D.S., for the month of September. Sept. 1 Kawabata begins practice as a dentist and invests $22,960 cash. 2 Purchases dental equipment on account from Green Jacket Co. for $19,560. 4 Pays rent for office space, $795 for the month. 4 Employs a receptionist, Michael Bradley 5 Purchases dental supplies for cash, $964. 8 Receives cash of $1,720 from patients for services performed. 10 Pays miscellaneous office expenses, $470. 14 Bills patients $6,940 for services performed. 18 Pays Green Jacket Co. on account, $5,150. 19 Withdraws $3,630 cash from the business for personal use. 20 Receives $1,080 from patients on account. 25 Bills patients $3,580 for services performed. 30 Pays the following expenses in cash: Salaries and wages $3,080; miscellaneous office expenses $98. (Record each separately) 30 Dental supplies used during September, $430. Record depreciation using a 5-year life on the equipment, the straight-line method, and no salvage value

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditor Squad

Authors: IndigoPine Designs

1st Edition

B084Q9WM6S, 979-8609911131

More Books

Students also viewed these Accounting questions

Question

How can data communications networks affect businesses?

Answered: 1 week ago

Question

What is the preferred personality?

Answered: 1 week ago