Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Listed below are the transactions of Yasunari Kawabata, D.D.S., for the month of September. Sept. wwwwwwwwww Kawabata begins practice as a dentist and invests

image text in transcribed

Listed below are the transactions of Yasunari Kawabata, D.D.S., for the month of September. Sept. wwwwwwwwww Kawabata begins practice as a dentist and invests $20,000 cash. Yasunari Kawabata, D.D.S. Adjusted Trial Balance September 30 1 Purchases a one-year insurance policy for $1,200, paying the entire amount in cash. 2 Purchases dental equipment on account from Green Jacket Co. for $17,280. 2 Collects $3,000 prepayment from patient for 2 year orthodontic treatment plan. 4 Pays rent for office space, $680 for the month. 4 Employs a receptionist, Michael Bradley. 5 Purchases dental supplies for cash, $942. 8 Receives cash of $1,690 from patients for services performed. 10 Pays miscellaneous office expenses, $430. 14 Bills patients $5,820 for services performed. 18 Pays Green Jacket Co. on account, $3,600. 19 Withdraws $3,000 cash from the business for personal use. 20 Receives $980 from patients on account. 25 Bills patients $2,110 for services performed. 30 Pays the following expenses in cash: Salaries and wages $1,800; miscellaneous office expenses $85. (Record each separately.) Record depreciation using a 5-year life on the equipment, the straight-line method, and no salvagevalue. Dental supplies used during September totaled $330. Prepare necessary adjusting entries for depreciation, prepaid insurance, unearned revenue, and supplies used. Then prepare an adjusted trial balance. Debit Credit Totals $ $ Help with adjusted trial balance.

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

Step: 3

blur-text-image

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

Managerial Accounting

Authors: Ronald W Hilton

7th Edition

0073022853, 978-0073022857

More Books

Students also viewed these Accounting questions

Question

If X has distribution function F(t) = 0, t Answered: 1 week ago

Answered: 1 week ago

Question

Nova Company

Answered: 1 week ago