Dr. Li's Family Dental has the following trial balance: Dr. Li's Family Dental Trial Balance...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Dr. Li's Family Dental has the following trial balance: Dr. Li's Family Dental Trial Balance December 31, 2016 Debit Credit Cash $16,000 Accounts receivable 3,000 Supplies 14,000 Equipment 22,000 Land 50,000 Accounts payable $29,000 Note payable 20,000 Share capital 10,000 Retained earnings 8,000 Service revenue 60,000 Salary expense 15,000 Rent expense 6,000 Interest expense 1,000 TOTAL $127,000 $127,000 Compute the following amounts for Dr. Li's dental practice: Answer: a. Total assets = b. Total liabilities = c. Net income or loss during December = d. Total shareholders' equity =
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.