Izabela Blossom opened a medical office under the name Izabela Blossom, MD, on August 1,2021. On August 31, the balance sheet showed Cash $2,600; Accounts Receivable $2.200: Supplies $476; Equipment $7,100; Accounts Payable $4,390; Note Payable $2,600, and I. Blossom, Capital, $5,386. During September, the following transactions occurred: Sept. 4 Collected $1,300 of accounts receivable. 5 Provided services of $10,387, of which $7.100 was collected from patients and the remainder was on account. 7 Paid $1,300 on accounts payable. 12 Purchased additional equipment for $2.448, paying $902 cash and leaving the balance on account. 15 Paid salaries, $4,000; rent for September, $1,986; and advertising expenses. $225. 18 Collected the balance of the accounts receivable from August 31. 20 Withdrew $725 for personal use. 26 Borrowed $2,600 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 $5,000. CRS Corp. will pay the amount owing after the medical services have been provided. 29 Received the telephone bill for September, $355. 30 Billed the government $11,000 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. Of a transaction causes a decrease in Assets, Liabilities or Owner's Equity place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-13 for example) Assets Accounts Receivable Cash Supplies Equipment Notes Payable Bals Sept. & Prepare an income statement for September. IZABELA BLOSSOM, MD Income Statement e Textbook and Media IZABELA BLOSSOM, MD Statement of Owner's Equity e Textbook and Media Prepare a balance sheet at September 30. (List Assets in order of liquidity.) IZABELA BLOSSOM, MD Balance Sheet Assets IZABELA BLOSSOM, MD Balance Sheet Assets Liabilities and Owner's Equity e Textbook and Media Izabela Blossom opened a medicaloffice under the name Izabela Blossom, MD. on August 1,2021. On August 31, the balance sheet showed Cash $2.600: Accounts Receivable 52.200Supplies 5476 Equipment 57.100, Accounts Payable $4.390; Note Payable $2,600; and . Blossom, Capital $5,386. During September, the following transactions occurred: Cated for at Provided services of $10.387.of which 57.100 was collected from patients and the remainder was on account Pas 51. X Purchased additional mentor 244 52 candling the balance o n 1 Paid salaris, 54000, enfor September and advertisiperses 5225 Collected the balance of the eve from Aust 31 W ow 5725 for personale B ed $2.000 from the Bank of Montresionante pable Sinea contract to provide medical services, not overed under the coversent health plan to employees of CRS Cor. in October for 55.000 CRS Corp will say the amount owing after the medical services have been provided Billed the government $11.000 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 for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-13 for example.)
