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question listed below are the transactions of john kawabata d d s for the month of s 4293941

Question

Listed below are the transactions of John Kawabata, D.D.S., for the month of September.

Dental supplies used during September, $340.

1. Enter the transactions shown above in appropriate general ledger accounts (use T-accounts).

2.Prepare an unclassified balance sheet. (List assets in order of liquidity.)

3. Close the ledger. (Post entries in the order as displayed in the problem statement.)

4. Prepare a post-closing trial balance.

Record depreciation using a 5-year life on the equipment, the straight-line method, and no salvage value.

Sept. 1

 

Kawabata begins practice as a dentist and invests $24,270 cash.

2

 

Purchases dental equipment on account from Green Jacket Co. for $19,020.

4

 

Pays rent for office space, $728 for the month.

4

 

Employs a receptionist, Michael Bradley.

5

 

Purchases dental supplies for cash, $1,014.

8

 

Receives cash of $1,790 from patients for services performed.

10

 

Pays miscellaneous office expenses, $500.

14

 

Bills patients $5,860 for services performed.

18

 

Pays Green Jacket Co. on account, $3,780.

19

 

Withdraws $3,360 cash from the business for personal use.

20

 

Receives $1,020 from patients on account.

25

 

Bills patients $2,400 for services performed.

30

 

Pays the following expenses in cash: Salaries and wages $3,640; miscellaneous office expenses $94. (Record each separately.)

 

 

Dental supplies used during September, $340.

1. Enter the transactions shown above in appropriate general ledger accounts (use T-accounts).

2.Prepare an unclassified balance sheet. (List assets in order of liquidity.)

3. Close the ledger. (Post entries in the order as displayed in the problem statement.)

4. Prepare a post-closing trial balance.

Record depreciation using a 5-year life on the equipment, the straight-line method, and no salvage value.

 

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