Mar 1 -Rook begins practice as a family practitioner and invests $50,000 cash

Mar 1-Purchases medical equipment on account from JK Enterprises for $22,800

Mar 3 -Pays rent for office space for $1,500 for the month

Mar 3 -Employs a receptionist, Michelle Kwin

Mar 4 -Purchases medical supplies for cash $1,165

Mar 10 -Receives cash of $850 from patients for services performed

Mar 15 -Bills patients $11,560 for services performed

Mar 21 -Pays JK Enterprises on account $7,600

Mar 23 -Withdraws $3,000 cash from the business for personal use

Mar 26 -Receives $2,600 from patients on account

Mar 30 -Bills patients $6,890 for services performed

Mar 31 -Pays the following expenses in cash: Salaries and wages: $2,500; Miscellaneous office expenses: $910

Mar 31 -Medical Supplies used during the month: $695

Instructions:

Enter in appropriate general ledger accounts

(Use T Accounts)

Select from: Cash, Accounts Receivable, Supplies, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Owner's Capital, Service Revenue, Rent Expense, Office Expense, Salaries and Wages Expense, Supplies Expense, Depreciation Expense, Income Summary Do not use a drawing account Use10 lines for the Cash and Income Summary Use5 lines for all other

Record depreciation using a 5 year life on the equipment - straight line method with no salvage value

Prepare: Trial balance Income statement Statement of owner's equity Unclassified balance sheet

Then:Close the ledger and prepare a post-closing trial balance