History Bookmarks People Window Help B 30% Tue 11:25 PM ent 2 Dew6 H BCIT Chapter 1 Assignment Payer com Question 3 /4 View Policies Current Attempt in Progress Izabela Oriole opened a medical office under the name Izabela Oriole, MD, on August 1, 2021. On August 31, the balance sheet showed Cash $2,700; Accounts Receivable $2,500; Supplies $530; Equipment $6,900; Accounts Payable $4,860; Note Payable $2,700, and I. Oriole, Capital, $5,070. During September, the following transactions occurred: Collected $1,050 of accounts receivable. Sept 5 Provided services of $9,987, of which $6,900 was collected from patients and the remainder was on account. 7 Paid $1,800 on accounts payable. Purchased additional equipment for $2,505, paying $860 cash and leaving the balance on account. Paid salaries, $4,100; rent for September, $2,009; and advertising expenses, $230 4 12 15 18 Collected the balance of the accounts receivable from August 31 20 Withdrew $650 for personal use 26 Borrowed $700 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 $4,600. CRS Corp.will pay the amount owing after the medical services have been provided 29 Received the telephone bill for September, $315. 30 Billed the government $10,800 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. (If a transaction causes a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See lustration 1-13 for example) History Bookmarks People Window Help B 30% Tue 11:25 PM ent 2 Dew6 H BCIT Chapter 1 Assignment Payer com Question 3 /4 View Policies Current Attempt in Progress Izabela Oriole opened a medical office under the name Izabela Oriole, MD, on August 1, 2021. On August 31, the balance sheet showed Cash $2,700; Accounts Receivable $2,500; Supplies $530; Equipment $6,900; Accounts Payable $4,860; Note Payable $2,700, and I. Oriole, Capital, $5,070. During September, the following transactions occurred: Collected $1,050 of accounts receivable. Sept 5 Provided services of $9,987, of which $6,900 was collected from patients and the remainder was on account. 7 Paid $1,800 on accounts payable. Purchased additional equipment for $2,505, paying $860 cash and leaving the balance on account. Paid salaries, $4,100; rent for September, $2,009; and advertising expenses, $230 4 12 15 18 Collected the balance of the accounts receivable from August 31 20 Withdrew $650 for personal use 26 Borrowed $700 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 $4,600. CRS Corp.will pay the amount owing after the medical services have been provided 29 Received the telephone bill for September, $315. 30 Billed the government $10,800 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. (If a transaction causes a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See lustration 1-13 for example)
