Ben invested C27 000 in cash (deposited in the business bank account) and

medical equipment with a fair value of C24 000 The medical equipment has an

Nov 1

expected remaining useful life of four years and no value at the end of its life. Rented the furnished office of a chiropractor who was retiring because of

illness, and paid the rent for November, C600

Took out a malpractice insurance policy giving one year's protection and paid the premium for the month of November, C750

3 Purchased medical supplies on credit, C580

9 Completed chiropractic work and immediately collected C3 400 cash for

13 Paid for the medical supplies purchased on 3 Nov

16 Completed chiropractic work for C Rock on credit. C1.700

23 Completed chiropractic work for T Wist on credit, C1 200

26 Received C1 700 from C Rock for the work completed on Nov 16.

28 Distributed cash of C1 000 to Ben Boney.

29 Purchased additional medical supplies on credit, C340.p

30 Paid the November telephone bill of the office, C80 Paid the salary of the receptionist, C650.

Prepaid the rent on the office for December and January, C1 200.

Prepaid the malpractice insurance premium for the next three months, C2 250, Supplies used during the month cost C400.

You are required to:

a Enter the above transactions on an accounting equation worksheet. b. Prepare a statement of profit or loss for The Curvy Spine for the month of November

20X5

Prepare a statement of changes in equity for The Curvy Spine for the month of November 20X5 d. Prepare a statement of financial position for The Curvy Spine at 30 November 20X5