Please advise on the following problem
Listed below are the transactions of James Smith, D.D.S., for the month of September. Sept. 1 Smith begins practice as a dentist, invests $20,620 cash and issues 2,062 shares of $10 par stock. 2 Purchases dental equipment on account from Green Jacket Co. for $17,340. 4 Pays rent for office space, $740 for the month. 4 Employs a receptionist, Michael Bradley. 5 Purchases dental supplies for cash, $890. 8 Receives cash of $1,740 from patients for services performed. 10 Pays miscellaneous office expenses, $450. 14 Bills patients $6,230 for services performed. 18 Pays Green Jacket Co. on account, $3,260. 19 Pays a dividend of $3,270 cash. 20 Receives $980 from patients on account. 25 Bills patients $2,240 for services performed. 30 Pays the following expenses in cash: Salaries and wages $1,680; miscellaneous office expenses $86. 30 Dental supplies used during September, $360. Record depreciation using a 5-year life on the equipment, the straight-line method, and no salvage value.\fEnter the transactions shown above in appropriate general ledger accounts (use T-accounts). (Post entries in the order displayed in the problem statement.) Cash Sept. 1 20620 Sept. 4 740 Sept. 8 1740 Sept. 5 890 Sept. 20 980 Sept. 10 450 Sept. 18 3260 Sept. 19 3270 Sept. 30 1680 Sept. 30 86 Sept. 30 Bal. 12964 Accounts Receivable Sept. 14 5230 Sept. 20 980 Sept. 25 2240 Sept. 30 Bal. # 7490 Rent Expense Sept. 4 740 Supplies Sept. 5 + 890 Sept. 30 360 Sept. 30 Bal. 530 Office Expense Sept. 10 450 Sept. 30 86 Sept. 30 Bal. + 536JAMES SMITH, D.D.S. Post-Closing Trial Balance September 30 Debit Credit Cash Accounts Receivable Allowance for Doubtful Accounts Supplies Prepaid Insurance Equipment Notes Payable Unearned Service Revenue $\fPrepare a trial balance. (Do not leave any answer field blank. Enter 0 for amounts.) JAMES SMITH, D.D.S. Trial Balance For the Month Ended September 30 Debit Credit Cash 23340 Accounts Receivable 8470 Rent Expense 740 Supplies 890 Office Expense 536 Salaries and Wages Expense 1680 Supplies Expense 360 Depreciation Expense 289 Equipment 17340 Common Stock 20620 Dividends 3270 Accounts Payable 3260 17340 Service Revenue 2240 Accumulated Depreciation-Equipment 289 Total 59435 50035Prepare an income statement. (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) JAMES SMITH, D.D.S. Income Statement For the Month Ended September 30 Service Revenue Expenses Salaries and Wages Expense $ Supplies Expense Rent Expense Insurance Expense Interest Expense Total Expenses Net Income / (Loss) $Prepare a retained earnings statement. (List items that increase owner's equity first.) JAMES SMITH, D.D.S. Statement of Retained Earnings For the Month Ended September 30 Balance, September 1 Add Net Income / (Loss) Less Dividends Balance, September 30 +Prepare an unclassified balance sheet. (List assets in order of liquidity.) JAMES SMITH, D.D.S. Balance Sheet September 30 Assets Cash Accounts Receivable Supplies Equipment Less Accumulated Depreciation-Equipment Total Assets Liabilities and Owners' Equity Accounts Payable Common Stock Retained Earnings Total Liabilities and Owners' Equity $Close the ledger. (Post entries in the order as displayed in the problem statement.) Cash Sept. 1 20,620 Sept. 4 740 Sept. 8 1,740 Sept. 5 890 Sept. 20 980 Sept. 10 450 Sept. 18 3,260 Sept. 19 3,270 Sept. 30 1,680 Sept. 30 86 Sept. 30 Bal. 12,964 Accounts Receivable Sept. 14 6,230 Sept. 20 980 Sept. 25 2,240 Sept. 30 Bal. 7,490 Rent Expense Sept. 4 740 + Supplies Sept. 5 890 Sept. 30 360 Sept. 30 Bal. 530 Office Expense Sept. 10 450 Sept. 30 86 Salaries and Wages Expense Sept. 30 1,680
