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Discuss balance sheet for the dental practice of carl craft

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Reference no: EM131801627

Prepare an income statement, an owner's equity statement, and a balance sheet for the dental practice of Carl Craft, DDS, from the items listed below for the month of September.

Carl Craft, Capital, September 1 $40,000

Accounts payable 7,000

Equipment 30,000

Service revenue 24,000

Carl Craft, Drawings 5,000

Dental supplies expense 3,500

Cash 6,000

Utilities expense 700

Dental supplies 2,800

Salaries expense 7,000

Accounts receivable 14,000

Rent expense 2,000

Reference no: EM131801627

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