Gayle Hayashi, MD$,$ opens a medical practice. During her first month of operation, January, the clinic, named Hayashi Medical Clinic, experienced the following events.

$($Click the icon to view the events.$)$

Analyze the effects of these events on the accounting equation of Hayashi Medical Clinic.

Analyze the events chronologically, one transaction at a time, beginning with the transaction on January $6$th$.$ For each transaction that follows the January $6$ transaction, calculate the balance in each account after analyzing its effect on the accounting equation. $($Complete only the necessary answer boxes for the transaction lines. Do not enter $"0"$ in the transaction lines. For events with the same date, be sure to enter the set of transactions for each event on a separate line in the order presented in the problem. Carry down all balances to the "Bal." line, including zero balance accounts, entering a $"0"$ for any zero balances. Enter a decrease in an account with a minus sign or parentheses. Abbreviations used: A$/$P $=$ Accounts Payable; Capital $=$ Gayle Hayashi, Capital; Exp. $=$ Expense; Liab. $=$ Liabilities; Med. $=$ Medical; Rev. $=$ Revenue; Sal. $=$ Salaries; Sup. $=$ Supplies.$)$

$\backslash$table$[[$ASSETS$,=,\backslash$table$[[$LIAB$.],[$A$/$P$]],\backslash$table$[[+],[+]],$EQUITY$],[$Cash$,+,\backslash$table$[[$Med$.],[$Sup$.]],+,$Land,Capital,$+,\backslash$table$[[$Service$],[$Rev$.]],-,\backslash$table$[[$Sal$.],[$Exp$.]],-,\backslash$table$[[$Rent$],[$Exp$.]],\backslash$table$[[,\backslash$table$[[$Utilities$],[$Exp$.]],,,,,,,,,,,,,,,],[,+,,+,,=,,+,,+,,-,,-,,-,]],]]$

Events

Jan. $6$ Hayashi invested $$250,000$ in the clinic by opening a bank account in the name of Hayashi Medical Clinic.

$9$ Hayashi Medical Clinic paid cash for land costing $$150,000.$ There are plans to build a clinic on the land. Until then, the business will rent an office.

$12$ The clinic purchased medical supplies for $$10,000$ on account.

$15$ On January $15,$ Hayashi Medical Clinic officially opened for business.

$15-31$ During the rest of the month, the clinic earned professional fees of $$20,000$ and recelved cash immediately.

$15-31$ The clinic paid cash expenses: employee salaries, $$5,000$; office rent, $$4,000$; utilities, $$500.$

$28$ The clinic sold supplies to another clinic at cost for $$1,000.$

$31$ The clinic paid $$4,000$ on the account from January $12.$

Print