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Prepare an income statement, an owner's equity statement, and a balance sheet for the dental practice of Tim Turner, DDS, from the items listed below for the month of October, 2020. $42,000 Tim Turner, Capital, October 1 Accounts payable 7,000 Equipment 30,000 Service revenue 25,000 Tim Turner, Drawings 6,000 Dental supplies expense 3,500 Cash 6,000 Utilities expense 700 Dental supplies 2,800 Salaries expense 9,000 Accounts receivable 14,000 Rent expense 2,000

Prepare an income statement, an owner's equity statement, and a balance sheet for the dental practice of Tim Turner, DDS, from the items listed below for the month of October, 2020. $42,000 Tim Turner, Capital, October 1 Accounts payable 7,000 Equipment 30,000 Service revenue 25,000 Tim Turner, Drawings 6,000 Dental supplies expense 3,500 Cash 6,000 Utilities expense 700 Dental supplies 2,800 Salaries expense 9,000 Accounts receivable 14,000 Rent expense 2,000

FINANCIAL ACCOUNTING
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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Question 4 Prepare an income statement, an owner's equity statement, and a balance sheet for the dental practice of Tim Turner, DDS, from the items listed below the month of October, 2020

STAE QUESTION 4 Prepare an income statement, an owner's equity statement, and a balance sheet for the dental practice of Tim Turner, DDS, from the items listed below the month of October, 2020. Tim Turner, Capital, October 1 $42,000 Accounts payable 7,000 Equipment 30,000 Service revenue 25,000 Tim Turner, Drawings 6,000 Dental supplies expense 3,500 Cash 6,000 Utilities expense 700 Dental supplies 2,800 Salaries expense 9,000 Accounts receivable 14,000 Rent expense 2,000
Transcribed Image Text:STAE QUESTION 4 Prepare an income statement, an owner's equity statement, and a balance sheet for the dental practice of Tim Turner, DDS, from the items listed below the month of October, 2020. Tim Turner, Capital, October 1 $42,000 Accounts payable 7,000 Equipment 30,000 Service revenue 25,000 Tim Turner, Drawings 6,000 Dental supplies expense 3,500 Cash 6,000 Utilities expense 700 Dental supplies 2,800 Salaries expense 9,000 Accounts receivable 14,000 Rent expense 2,000
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