Dr. Marty Gold, a local dentist, has the following account balances on August 31, Year 6. The income statement accounts represent revenues and expenses for the month of August. The name of the business is Marty Gold, Dentist. The details available to you are: M. Gold, capital (August 1)) $ 42,000 Accounts payable 7,000 Equipment 30,000 Service revenue 25,000 M. Gold, drawings 6,000 Dental supplies expense 3,500 Cash 8,000 Utilities expense 700 Dental supplies 2,800 Salaries expense 7,000 Accounts receivable 14,000 Rent expense 2,000 Required a. Prepare an income statement for the dental practice for the month of August. b. Prepare a statement of owner's equity for the dental practice for the month of August. c. Prepare a balance sheet for the dental practice for the month of August

Dr. Marty Gold, a local dentist, has the following account balances on August 31, Year 6. The income statement accounts represent revenues and expenses for the month of August. The name of the business is Marty Gold, Dentist. The details available to you are: M. Gold, capital (August 1)) $ 42,000 Accounts payable 7,000 Equipment 30,000 Service revenue 25,000 M. Gold, drawings 6,000 Dental supplies expense 3,500 Cash 8,000 Utilities expense 700 Dental supplies 2,800 Salaries expense 7,000 Accounts receivable 14,000 Rent expense 2,000 Required a. Prepare an income statement for the dental practice for the month of August. b. Prepare a statement of owner's equity for the dental practice for the month of August. c. Prepare a balance sheet for the dental practice for the month of August

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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