After completing the preparation, the necessarg credit adjustments are made to adjust the balances of the accounts shown in * the balance with a view to Photographing the compang's general profit and loss accounts and photographing the balance sheet Balance Sbeet - Asset Side circulated Profit and loss account on the revenue side Administrative expenses statement

After completing the preparation, the necessarg credit adjustments are made to adjust the balances of the accounts shown in * the balance with a view to Photographing the compang's general profit and loss accounts and photographing the balance sheet Balance Sbeet - Asset Side circulated Profit and loss account on the revenue side Administrative expenses statement

Name: After completing the preparation, the necessary credit adjustments ar
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Description: After completing the preparation, the necessary credit adjustments are madeto adjust the balances of the accounts shown in * thebalance with a view toPhotographing the compang's general profit and loss accountsand photographing the balance sheetBala

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Listed below are the transactions of Joseph Moore, D.D.S., for the month of September. Sept. 1 2 4 4 5 8 10 14 18 19 20 25 30 30 Moore begins practice as a dentist, invests $20,030 cash and issues 2,003 shares of $10 par stock. Purchases dental equipment on account from Green Jacket Co. for $17,820. Pays rent for office space, $690 for the month. Employs a receptionist, Michael Bradley. Purchases dental supplies for cash, $900. Receives cash of $1,770 from patients for services performed. Pays miscellaneous office expenses, $420. Bills patients $5,950 for services performed. Pays Green Jacket Co. on account, $3,760. Pays a dividend of $3,090 cash. Receives $1,060 from patients on account. Bills patients $1,980 for services performed. Pays the following expenses in cash: Salaries and wages $1,700; miscellaneous office expenses $83. Dental supplies used during September, $320. Record depreciation using a 5-year life on the equipment, the straight-line method, and no salvage value.
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