Dec	6		Samoa invested $150,000 in the business, which in turn issued its common stock to her.
Dec	9		The business paid cash for land costing $64,000. Samoa plans to build an office building on the land.
Dec	12		The business purchased medical supplies for $2,400 on account.
Dec	15		Dr. Helen Samoa, P.C., officially opened for business.
Dec	15-31		During the rest of the month, Samoa treated patients and earned service revenue of $9,800, receiving cash for half the revenue earned.
Dec	15-31		The business paid cash expenses: employee salaries, $3,600; office rent, $900; utilities, $400. (Record the cash amount as a total and identify and record any other amounts separately.)
Dec	31		The business sold supplies to another physician for cost of $1,000 and received cash.
Dec	31		The business borrowed $34,000, signing a note payable to the bank.
Dec	31		The business paid $1,300 on account.

Requirement 1. Analyze the effects of these events on the accounting equation of the medical practice of Dr.

Helen Samoa,

P.C.

Begin with the first transaction on

December

6. (Use parentheses or a minus sign when decreasing accounts. If an input field is not used in the table leave the field empty; do not enter a zero. Enter the transactions in the same order as they appear in the original list.)

Assets

=

Liabilities

+

Stockholders' Equity

Accts

Medical

Accts

Note

Common

Retained

Type of Equity

Cash

+

Rec.

+

Supplies

+

Land

=

Pay.

+

Payable

+

Stock

+

Earnings

Transaction

Dec 6

150,000

150,000

Issued stock

Part 2

9	(64,000)						64,000
12					2,400				2,400

Part 3

15
15-31	4,900		4,900												9,800	Service revenue

Part 4

15-31	4,900														4,900	Salary expense