Listed below are the transactions of Kenneth Clark, D.D.S., forthe month of September.
| Sept. 1 | | Clark begins practice as a dentist, invests $18,790 cash andissues 1,879 shares of $10 par stock. |
| 2 | | Purchases dental equipment on account from Green Jacket Co. for$18,300. |
| 4 | | Pays rent for office space, $620 for the month. |
| 4 | | Employs a receptionist, Michael Bradley. |
| 5 | | Purchases dental supplies for cash, $880. |
| 8 | | Receives cash of $1,830 from patients for servicesperformed. |
| 10 | | Pays miscellaneous office expenses, $480. |
| 14 | | Bills patients $5,810 for services performed. |
| 18 | | Pays Green Jacket Co. on account, $3,430. |
| 19 | | Pays a dividend of $2,830 cash. |
| 20 | | Receives $900 from patients on account. |
| 25 | | Bills patients $2,090 for services performed. |
| 30 | | Pays the following expenses in cash: Salaries and wages $1,710;miscellaneous office expenses $84. |
| 30 | | Dental supplies used during September, $360 |
Record depreciation using a 5-year life on the equipment, thestraight-line method, and no salvage value.
1. Enter the transactions shown above in appropriate generalledger accounts (use T-accounts).
2. Prepare a trial balance.
3. Prepare an income statement.
4. Prepare a retained earnings statement.
5. Prepare an unclassified balance sheet.
6. Close the ledger.
7. Prepare a post-closing trial balance.
