Listed below are items of Carl Craft, DDS, ledger for the month of September 2019. Carl Craft,
Question:
Listed below are items of Carl Craft, DDS, ledger for the month of September 2019.
Carl Craft, Capital, September 1 $40,000
Accounts payable 7,000
Equipment 30,000
Service revenue 24,000
Carl Craft, Drawings 5,000
Dental supplies expense 3,500
Cash 6,000
Utilities expense 700
Dental supplies 2,800
Salaries expense 7,000
Accounts receivable 14,000
Rent expense 2,000
Unearned revenue 1800
Rent revenue 3000
Instructions
1. What is the closing entry to close revenues?
2. Compute the total liabilities on September 30?
3. If the amount in supplies expense is the adjusting entry for September, what was the balance in supplies on Sep 1?