Question
The dental practice of Tiffany Holness, DDS, has the following items for the month of September, 2020. Prepare an income statement, a statement of owner's
The dental practice of Tiffany Holness, DDS, has the following items for the month of September, 2020. Prepare an income statement, a statement of owner's equity, and a balance sheet for the dental practice.
T. Holness, Capital (September 1) ............................. $37,000 Accounts payable ....................................................... 7,000 Equipment .................................................................. 30,000 Accumulated Depreciation ......................................... 5.000 Service revenue ......................................................... 25,000 Interest Income .......................................................... 350.00 T. Holness, Drawings ................................................. 6,000 Dental supplies expense ............................................ 3,500 Cash .......................................................................... 8,000 Utilities expense ......................................................... 700 Dental supplies .......................................................... 2,800 Salaries expense ........................................................ 7,000 Accounts receivable ................................................... 14,000 Rent expense ............................................................. 2,000
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