Mr MacKillop
Accounting 11
Friday September 27, 2012
Computer Practice #2
Name: __________________________
Date: __________________________
Use the computer files found in the MacKillop handout drive “Computer Practice 2”
1. For June 5, 2012, prepare a trial balance, an income statement for the week, and a
balance sheet.
Mr MacKillop
Accounting 11
Friday September 27, 2012
2. Set up T-accounts for all items on the balance sheet that follows and record the
balance of each account.
(a) Use the Blank T-Accounts on the back of this sheet
Adams Dental Clinic
Balance Sheet
October 1, 2010
Assets
Cash
Accounts Receivable
Dental Supplies
Equipment
Automobile
Total Assets
Liabilities
$ 5 000
8 000
2 000
30 000
8 000
$53 000
Accounts Payable
Bank Loan
Total Liabilities
Owner’s Equity
J. Adams, Capital
Total Liabilities
and Owner’s Equity
$ 1 500
12 000
13 500
39 500
$53 000
(b) In the T-accounts that you have set up, record the following transactions:
Oct. 2
3
3
4
4
5
6
J. Adams, the owner, invested a further $4000 in the clinic.
Paid $200 cash on the bank loan.
Purchased dental equipment for $3500 cash.
Purchased dental supplies for $750 from H.L. Laboratories on account.
Received $300 cash from a patient on account.
Borrowed $7000 from the bank.
Returned supplies worth $150 to H.L. Laboratories because they were not as
ordered.
7 Purchased a new piece of equipment worth $14 500 from Lintel Equipment. A
deposit of $8000 was paid on the equipment with the balance, $6500, to be paid
later.
(c) Using the computer file “Trial Balance” found in the MacKillop handout
drive “Computer Practice 3” folder, Prepare a trial balance for the
Adams Dental Clinic dated October 1, 2012