Sections	Type				# of Questions	Marks
		Journal					57
		G/L Accounts					68
		Trial Balance					20
		Income Statement					13
		Statement of Owner's Equity					6
		Balance Sheet					12
		TOTAL					176
Name:
Submit as instructed once complete
Transfer the Opening entries from the Balance Sheet to the Ledger opening balances (ledger account add numbers as you go)
Using Accounting practices Learned - use the transactions below to: Create Journal Entries; Post from the Journal to the Ledgers; Create a Trial Balance from the finished ledgers; create Financial Statements from the Trial Balance
All date, Account and Ledger number fields have drop down menus.
The opening balances for the month of March are as follows:
Ditka Dental
Balance Sheet
As at February 28, 2021
Assets				Liabilities
Bank (cash)			$8,200	ACCOUNTS PAYABLE			$7,350
ACCOUNTS RECEIVABLE			$6,250	BANK LOAN			$2,800
PREPAID INSURANCE			$2,500	LINE OF CREDIT			$22,500
DENTAL EQUIPMENT			$80,000
Acc. Depreciation				Total Liabilities			$32,650
DENTAL EQUIPMENT			($10,000)
				Capital (owners equity)			$54,300
Total Assets			$86,950	Total Liabilities and Owner's Equity			$86,950
Transactions for the month of March:
Mar 1	Owner deposited personal cash into the business bank account						$5,200
Mar 2	Owner borrowed cash for the business & deposited in bank						$6,500
Mar 3	Bought Dental Xray Machine from cash in bank						$10,000
Mar 4	Receive cash from previous work for clients - deposit in bank						$4,800
Mar 5	Paid rent for the month (wrote cheque from bank)						$2,850
Mar 6	Paid salaries from bank account (wrote cheques)						$975
Mar 8	Paid portion of the accounts payable (etransfer from bank)						$1,000
Mar 9	Received interest on the bank account						$15
Mar 12	Purchased supplies on account (expense them)						$250
Mar 14	Received cash from client for previous work - deposit to bank						$900
Mar 16	Purchased gasoline for the company car using line of credit						$750
Mar 19	Sold services on account receivable (Insurance claims)						$2,250
Mar 22	Reorder car insurance used this period - from prepaid						$600
Mar 26	Received an advertising bill that will be paid next month						$320
Mar 28	Paid bank loan principle (from business bank)						$350
Mar 28	Paid line of credit (from business bank)						$500
Mar 29	Paid interest on the bank loan/ line of credit (from business bank)						$375
Mar 30	Owner withdrew cash for personal use from bank						$1,425
Mar 31	Recognized one month of depreciation						$475
The Chart of Accounts (GL no.) is shown below:
Account Description			Account #		Account Description			Account #
ASSETS - CATEGORY 1					REVENUE - CATEGORY 4
Bank (cash)			101		REVENUE			400
ACCOUNTS RECEIVABLE			110		INTEREST REVENUE			410
PREPAID CAR INSURANCE			112
DENTAL EQUIPMENT			120		EXPENSES - CATEGORY 5
Acc. Depreciation Dental Equipment			121		ADVERTISING			505
LIABILITIES - CATEGORY 2					CAR INSURANCE			510
ACCOUNTS PAYABLE			200		RENT			520
BANK LOAN			210		TELEPHONE			530
LINE OF CREDIT			220		SALARY			540
					SUPPLIES			545
OWNER'S EQUITY - CATEGORY 3					GASOLINE			550
CAPITAL (owners equity)			300		DEPRECIATION			560
DRAWINGS			310		INTEREST EXPENSE			570
Required:
a)	Journalize the transactions (with dates and descriptions)
b)	Post the transactions to the general ledger
c)	Prepare the financial statements in the worksheets provided