Refer to Short Exercise 2-3. Which of the transactions of Faith Varitek, MD, increased the total assets

Question:

Refer to Short Exercise 2-3. Which of the transactions of Faith Varitek, MD, increased the total assets of the business? For each transaction, identify the asset that was increased.

Apr 1 Varitek invested $27,000 cash to start her medical practice. The business issued to Varitek.
1 Purchased medical supplies on account totaling $8,800.
2 Paid monthly office rent of $3,500.
3 Recorded $8,300 revenue for service rendered to patients, received cash of $2,200, and sent bills to patients for the remainder.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...