Refer to the transactions pertaining to Bayshore Radiology Center presented in this chapter Restate the impact of the transactions on Bay shore 's balance sheet using these data a Transaction The $200,000 equipment purchase is made with long term borrowings instead of cash b Transaction 3 The $20,0...

a Cash 1000000 Accounts payable 20000 Supplies 20000 Common stock 1000000 Gross fixed assets 20 ...

Refer to the transactions pertaining to Bayshore Radiology Center presented in this chapter. Restate the impact of

Question:

Refer to the transactions pertaining to Bayshore Radiology Center presented in this chapter. Restate the impact of the transactions on Bay-shore's using these data:

Cash $ 800,000 Common stock $1,000,000 Gross fixed assets 200,000 Total assets $1,000,000 Total claims $1,000,000

a. Transaction : The $200,000 equipment purchase is made with long-term borrowings instead of cash.
b. Transaction 3: The $20,000 in supplies are purchased with cash in-stead of on trade credit.
c. Transaction: The $50,000 in services provided are immediately paid for by patients instead of billed to third-party payers.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...