Problem 3-01 Listed below are the transactions of George Robinson, D.D.S., for the month of September. Sept. 1 Robinson begins practice as a dentist, invests $19,140 cash and issues 1,914 shares of $10 par stock. 2 Purchases dental equipment on account from Green Jacket Co. for $18,240. 4 Pays rent for office space, $700 for the month. 4 Employs a receptionist, Michael Bradley. 5 Purchases dental supplies for cash, $920. 8 Receives cash of $1,700 from patients for services performed. 10 Pays miscellaneous office expenses, $420. 14 Bills patients $5,440 for services performed. 18 Pays Green Jacket Co. on account, $3,560. 19 Pays a dividend of $3,090 cash. 20 Receives $940 from patients on account. 25 Bills patients $1,970 for services performed. 30 Pays the following expenses in cash: Salaries and wages $1,960; miscellaneous office expenses $88. 30 Dental supplies used during September, $310. Record depreciation using a 5-year life on the equipment, the straight-line method, and no salvage value. 700 920 420 3560 3090 1960 88 940 Cash Sept. 1 19140) Sept. 4 Sept. 8 1700|| Sept. 5 Sept. 20 940 Sept. 10 Sept. 18 Sept. 19 Sept. 30 Sept. 30 0 Sept. 30 Sept. 30 Bal. v 11042 Accounts Receivable Sept. 14 5440 Sept. 20 Sept. 25 1970 Sept. 30 Bal. v 6470 Rent Expense Sept. 4 700 Supplies Sept. 5 920 Sept. 30 Sept. 30 Bal. v 610 Office Expense Sept. 10 420 Sept. 30 88 Sept. 30 Bal. v 508 Salaries and Wages Expense Sept. 30 1960 Supplies Expense Sept. 30 310 Depreciation Expense Sept. 30 304 Equipment Sept. 2 18240 Sept. 30 Bal. v 18240 310 Common Stock Sept. 1 19140 Sept. 30 Bal. v || 19140 Dividends Sept. 19 3090 Sept. 30 Bal. v 3090 Accounts Payable Sept. 18 3560|| Sept. 2 18240 Sept. 30 Bal. || 14680 Service Revenue Sept. 8 1700 Sept. 14 5440 Sept. 25 1970 Accumulated Depreciation-Equipment Sept. 30 304 Prepare an unclassified balance sheet. (List assets in order of liquidity.) GEORGE ROBINSON, D.D.S. Balance Sheet September 30 Assets Cash 11042 Accounts Rec 6470 Supplies 610 18240 x Equipment Less v Accumulated 304 $ 36058 Total Assets Liabilities and Owners' Equity Accounts Pay $ 14680 Common Stoi 19140 Retained Ear 2238 Total Liabilities and Owners' Equity $ 36058 Close the ledger. (Post entries in the order as displayed in the proble Sept. 1 Sept. 8 Sept. 20 Cash 19,140 Sept. 4 1,700 Sept. 5 940 Sept. 10 Sept. 18 Sept. 19 Sept. 30 Sept. 30 11,042 Accounts Receivable 5,440 Sept. 20 1,970 6,470 Rent Expense 700 920 420 3,560 3,090 1,960 88 Sept. 30 Bal. 940 Sept. 14 Sept. 25 Sept. 30 Bal. Sept. 4 700) Sept. 4 700 700 700 310 Sept. 5 Sept. 30 Bal. Supplies 920 Sept. 30 610 Office Expense 420 Sept. 10 Sept. 10 420 Sept. 30 88 420 508 Salaries and Wages Expense 1,960 Sept. 30 Sept. 30 1960 1960 1960 Supplies Expense 310 Sept. 30 Sept. 30 310 310 310 Depreciation Expense Sept. 30 304 Sept. 30 304 x 304 304 Sept. 2 Sept. 30 bal Equipment 18,240 18,240 Common Stock Sept. 1 Sept. 30 bal Retained Earnings 3090|| Sept. 19 19,140 19,140 Sept. 19 3090 3090 Sept. 19 Sept. 30 bal Sept. 30 Bal. v Dividends 3,090 3,090 Accounts Payable 3,560 Sept. 2 Sept. 30 Bal. Service Revenue Sept. 18 18,240 14,680 X x Sept. 8 1,700 Sept. 14 5,440 Sept. 25 1,970 X 9110 Accumulated Depreciation-Equipment Sept. 30 Sept. 30 Bal. 304 304 Income Summary Sept. 4 700|| Sept. 8 1700 Sept. 10 420 || Sept. 14 5440 X Sept. 30 88 || Sept. 25 1970 X Sept. 30 1960 Sept. 30 310 Sept. 30 304 3782 9110 Prepare a post-closing trial balance. GEORGE ROBINSON, D.D.S. Post-Closing Trial Balance For the Month Ended September 30 Debit Credit Cash 11042 $ Accounts Rec 6470 Supplies 610 Accumulated 18240 Common Stoi 19140 Accounts Pay 14680 Retained Ear 2238 X 36058 36058 $
