Instructions:

Use only ONE Google Sheet$/$Microsoft Excel file. Then, rename each sheet as following:

Sheet $1=T-$accounts $($and their final balance$)$

$,$ Sheet $2=$ Trial Balance

Sheet $3=$ Balance Sheet

a$.$ Set up T$-$accounts for all items on the balance sheet that follows and record the balance of

each account.

In the T$-$accounts that you have set up in part $($a$),$ record the following transactions:

Oct. $2$ L $.$ Wong, the owner, invested a further $$4000$ in the clinic.

$3$ Paid $ $200$ cash on the bank loan.

$3$ Purchased dental equipment for $$3500$ cash.

$4$ Purchased dental supplies for $$750$ from H$.$L$.$ Laboratories on account.

$4$ Received $$300$ cash from a patient on account.

$5$ Borrowed $$7000$ from the bank.

$6$ Returned supplies worth $$150$ to H$.$L$.$ Laboratories because they were not as ordered.

$7$ Purchased a new piece of equipment worth $$14500$ from Lintel Equipment. A deposit

of $$8000$ was paid on the equipment with the balance, $$6500,$ to be paid later.

c$.$ Calculate the new balances in the T $-$accounts.

d$.$ Prepare a trial balance for the L$.$ Wong Dental Clinic dated October $7,20--$

e$.$ Prepare a new balance sheet for the L$.$ Wong Dental Clinic dated October $7,20--.$