Question
Question 1 Listed below are the transactions of Steven Garcia, D.D.S., for the month of September. Sept. 1 Garcia begins practice as a dentist, invests
Question 1 Listed below are the transactions of Steven Garcia, D.D.S., for the month of September. Sept. 1 Garcia begins practice as a dentist, invests $21,320 cash and issues 2,132 shares of $10 par stock. 2 Purchases dental equipment on account from Green Jacket Co. for $18,360. 4 Pays rent for office space, $710 for the month. 4 Employs a receptionist, Michael Bradley. 5 Purchases dental supplies for cash, $940. 8 Receives cash of $1,790 from patients for services performed. 10 Pays miscellaneous office expenses, $400. 14 Bills patients $5,510 for services performed. 18 Pays Green Jacket Co. on account, $3,340. 19 Pays a dividend of $2,900 cash. 20 Receives $930 from patients on account. 25 Bills patients $2,240 for services performed. 30 Pays the following expenses in cash: Salaries and wages $1,650; miscellaneous office expenses $84. 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. 1. Enter the transactions shown above in appropriate general ledger accounts (use T-accounts) 2. Prepare a trial balance 3. Prepare an income statement. 4. Prepare a retained earnings statement 5. Prepare an unclassified balance sheet 6. Close the ledger. (Post entries in the order as displayed in the problem statement.) 7. Prepare a post-closing trial balance. Please do as much as possible
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