question archive P2-2A Emily Valley is a licensed dentist

P2-2A Emily Valley is a licensed dentist

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P2-2A Emily Valley is a licensed dentist. During the first month of the operation of her
business, the following events and transactions occurred.
April 1 Invested $20,000 cash in her business.
1 Hired a secretary-receptionist at a salary of $700 per week payable monthly.
2 Paid office rent for the month $1,100.
3 Purchased dental supplies on account from Dazzle Company $4,000.
10 Performed dental services and billed insurance companies $5,100.
11 Received $1,000 cash advance from Leah Mataruka for an implant.
20 Received $2,100 cash for services performed from Michael Santos.
30 Paid secretary-receptionist for the month $2,800.
30 Paid $2,400 to Dazzle for accounts payable due.
Emily uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable,
No. 126 Supplies, No. 201 Accounts Payable, No. 209 Unearned Service Revenue, No. 301
Owner’s Capital, No. 400 Service Revenue, No. 726 Salaries and Wages Expense, and
No. 729 Rent Expense.
Instructions
a) Journalize the March transactions.
b) Ledger (T-account)
c) Trial Balance
d) Income Statement
e) Owner’s Equity Statement
f) Balance Sheet

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