Transactions follow for Emily Cain, D.D.S., for the month of September:
(a) Enter the transactions in appropriate ledger accounts, using the following account titles: Cash; Accounts Receivable; Prepaid Rent; Supplies; Equipment; Accumulated Depreciation-Equipment; Accounts Payable; Emily Cain's Owner's Drawings; Service Revenue; Rent Expense; Miscellaneous Expense; Salaries and Wages Expense; Supplies Expense; Depreciation Expense; Income Summary; and Emily Cain's Owner's Capital. Allow 10 lines for the Cash and Income Summary accounts, and five lines for each of the other accounts that are needed. Record depreciation on the equipment using the straightline method, five-year useful life, and no residual value.
(b) Prepare an adjusted trial balance.
(c) Prepare an income statement, balance sheet, and statement of owners' equity.
(d) Prepare a post-closing trial balance at September 30.

  • CreatedSeptember 18, 2015
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