Question
TransactionsFinancial Statements-Service Company) Listed below are the transactions of Yasunari KawabataD.D.S. , for the month of September Sept. Kawabata begins practice as a dentist, invests
TransactionsFinancial Statements-Service Company) Listed below are the transactions of Yasunari KawabataD.D.S. , for the month of September Sept. Kawabata begins practice as a dentist, invests $ 20,000 cash and issues 2,000 shares of $10 par stock 2 Purchases dental equipment on account from Green Jacket Co. for 17.280. 4 Pays rent for office space680 for the month. Employs a receptionistMichael Bradley Purchases dental supplies for cash Receives cash $1,690 from patients for services performed 10 Pays miscellaneous office expenses, S430 14 Bills patients $5,820 for services performed. 18 Pays Green Jacket on account, $3,600 19 Pays a dividend of 3,000 cash 20 Receives $980 from patients on account . 25 Bills patients $2.110 for services performed. 30 Pays the following expenses in cash: salaries and wages $1,800; miscellaneous office expenses . 30 Dental supplies used during September. $330. structions Enter the transactions shown above in appropriate general ledger accounts (use T- accounts). Use the following ledger accounts : Cash Accounts Receivable , Supplies, Equipment, Accumulated Depreciation-- Equipment Accounts Payable Common Stock, Retained Earnings Dividends. Service Revenue, Rent Expense, Office ExpenseSalaries and Wages ExpenseSupplies Expense, Depreciation Expense, and Income Summary . Allow 10 lines for the Cash and Income Summary accountsand lines for each of the other accounts needed. Record depreciation using a -year life on the equipment , the straight- line method , and no salvage value. Do not use a drawing account . you Victoria Brown: b. Prepare a trial balance cPrepare an income statementa retained carnings statement, and an unclassified balance sheet. d. Close the ledger . e. Prepare a post-closing trial balance.
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