Dr. Lis Family Dental has the following trial balance: Dr. Lis Family Dental Trial Balance...
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Accounting
Dr. Lis Family Dental has the following trial balance: Dr. Lis Family Dental Trial Balance December 31, 2016 Debit Credit Cash $6,000 Accounts receivable 13,000 Supplies 4,000 Equipment 22,000 Land 50,000 Accounts payable $19,000 Note payable 20,000 Share capital 10,000 Retained earnings 8,000 Service revenue 70,000 Salary expense 21,000 Rent expense 10,000 Interest expense 1,000 TOTAL $127,000 $127,000
Compute the following amounts for Dr. Lis dental practice: a. Total assets b. Total liabilities c. Net income or loss during December d. Total shareholders equity
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