Reference no: EM131256212
Listed below are the transactions of Newman Kawabata, D.D.S., for the month of September.
Sept. 1 Kawabata begins practice as a dentist and invests $22,230 cash.
2 Purchases dental equipment on account from Green Jacket Co. for $18,060.
4 Pays rent for office space, $792 for the month.
4 Employs a receptionist, Michael Bradley.
5 Purchases dental supplies for cash, $1,002.
8 Receives cash of $1,800 from patients for services performed.
10 Pays miscellaneous office expenses, $490.
14 Bills patients $5,870 for services performed.
18 Pays Green Jacket Co. on account, $4,350.
19 Withdraws $3,760 cash from the business for personal use.
20 Receives $1,070 from patients on account.
25 Bills patients $3,220 for services performed.
30 Pays the following expenses in cash: Salaries and wages $2,340; miscellaneous office expenses $87. (Record each separately.)
30 Dental supplies used during September, $370.
Record depreciation using a 5-year life on the equipment, the straight-line method, and no salvage value.
Enter the transactions shown above in appropriate general ledger accounts (use T-accounts). Do not use a drawing account. (Post entries in the order displayed in the problem statement.)
List of Accounts: Cash, Accounts Receivable, Rent Expense, Supplies, Office Expense, Salaries and Wages Expense, Supplies Expense, Depreciation Expense, Equipment, Accounts Payable, Service Revenue, Accumulated Depreciation - Equipment, Owner's Capital.
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: Listed below are the transactions of Newman Kawabata, D.D.S., for the month of September. Record depreciation using a 5-year life on the equipment, the straight-line method, and no salvage value. List of Accounts: Cash, Accounts Receivable, Rent Expe..
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