Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Assignment sent to Gradebook Your grades being recorded Tue, Jan 9, 2000, 11.02:37 PM (America/Loss 07:00 Question 3 View Policies Current Attempt in Progress Izabela

image text in transcribed
image text in transcribed
image text in transcribed
Assignment sent to Gradebook Your grades being recorded Tue, Jan 9, 2000, 11.02:37 PM (America/Loss 07:00 Question 3 View Policies Current Attempt in Progress Izabela Carla Vista opened a medical office under the name Izabela Carla Vista, MD, on August 1.2021. On August 31, the balance sheet showed Cash $2.900, Accounts Receivable $2.200 Supplies $451: Equipment $6,800, Accounts Payable $4.630; Note Payable $2.900, and I. Carla Vista, Capital 54821. During September, the following transactions occurred: Sept. 4 Collected $900 of accounts receivable Provided services of 59.656, of which 56,800 was collected from patients and the remainder was on account. 7 Paid $2.100 on accounts payable 12 Purchased additional equipment for $2.507, paying $874 cash and leaving the balance on account 15 Paid salaries, $4,400, rent for September, $1.951; and advertising expenses. $166. 18 Collected the balance of the accounts receivable from August 31. 20 Withdrew $575 for personal use. 26 Borrowed $2.900 from the Bank of Montreal on a note payable 28 Signed a contract to provide medical services, not covered under the government health plan, to employees of CRS Corp. in October for $4.900. CRS Corp. will pay the amount owing after the medical servic have been provided 29 Received the telephone bill for September, 5345 30 Billed the government $10.400 for services provided to patients in September Beginning with the August 31 balances, prepare a tabular analysis of the effects of the September transactions on the accounting equation. Of a transaction causes a decrease in Assets, Liabilities or Owner's Equity, plo negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-13 for comple) shili Beginning with the August 31 balances, preparatabular analysis of the effects of the September transactions on the accounting in de transactions de terra negatives for parentheses in front of the amount entered for the particular Astorguilty that was reduced Settin 1-13 for comple) Assets Cash Accounts Receivable Supplies Louiment Na Payable Capital Bals 5 $ Sept. 4 5 7 12 15 15 18 20 26 20 29 30 5 Total 5 e Textbook and Media Prepare an income statement for September O ust 31 balances prepare a tabular analysis of the effects of the September transactions on the accounting equation of transaction causes a decrease in der Owner's Equity place ses) in front of the amount entered for the particular Assetto Coulty item that was reduced. See Mustration 1-13 for sample) Owner's Equity Notes Payable Accounts Payable Carla Vista Capital Carla Vista Drawings Revenues Expenses $ $ $ 5 $ $ $

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Custom Edition For University Of Central Florida From Managerial Accounting

Authors: Karen Wilken Braun, Wendy Tietz

3rd Edition

1269451839, 978-1269451833

More Books

Students also viewed these Accounting questions