Homework: Chapter 1 Homework Save Score: 0 of 2 pts 1 3 of 7 (2 complete) HW Score: 20%, 2 of 10 pts E1-29 (similar to) Question Help Caren Satterly opened a medical practice. During July, the first month of operation, the business, titled Caren Satterty, MD, experienced the following events. (Click the icon to view the transactions.) Analyze the effects of these events on the accounting equation of the medical practice of Caren Satterly, MD Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 6th. For each transaction that follows the transaction on the 6th calculate the balance in each account after analyzing its effect on the accounting equation (Complete only the necessary answer boxes for your transaction lines. Do not enter any zeros for your transaction lines. For transactions with the same date, be sure to enter each transaction 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; Com = Common; Contr = Contributed, Div. = Dividends. Exp. = Expense: Liab = Liabilities, Med. Medical Rev. = Revenue, Sal = Salaries. Sup. = Supplies) Assets = Liab. Equity More Info - X Contr Capital + Cash + Med + Land + Com Diy Retained Earnings + Service Sal Rent Rev Exp Exp Utilities Exp Sup Stock 7/6 Jul 6 Received a contribution of $45,000 from Satterly and opened a bank account in the name of C Satterly, MD The corporation issued common stock to Satterly 9 Paid $40 000 cash for land 12 Purchased medical supplies for $2.000 on account 15 Officially opened for business. 20 Paid cash expenses: employees salaries $1,000 office rent, $1,100 utilities $450. 31 Earned service revenue for the month $11,000, receiving cash 31 Paid $1,100 on account Enter any number in the edit fields and then click Check Answer parts remaining Clear All