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Izabela Cullumber opened a medical office under the name Izabela Cullumber, MD, on August 1, 2021. On August 31, the balance sheet showed Cash $2,000;
Izabela Cullumber opened a medical office under the name Izabela Cullumber, MD, on August 1, 2021. On August 31, the balance sheet showed Cash $2,000; Accounts Receivable $2,100; Supplies $ 457; Equipment $6,600; Accounts Payable $4,060; Note Payable $ 2.000; and I. Cullumber, Capital, $ 5,097. During September, the following transactions occurred: Sept. 4 Collected $ 1.300 of accounts receivable. 5 Provided services of $ 10.773, of which $ 6,600 was collected from patients and the remainder was on account. 7 Paid $ 1.200 on accounts payable. 12 Purchased additional equipment for $2.450, paying $ 859 cash and leaving the balance on account. 15 Paid salaries. $ 4.500: rent for September. $ 2.047; and advertising expenses. $ 179. 18 Collected the balance of the accounts receivable from August 31. 20 Withdrew $ 575 for personal use. 26 Borrowed $ 2.000 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 4.700.CRS Corp. will pay the amount owing after the medical services have been provided 29 Received the telephone bill for September. $ 325. Provided services of $ 10,773, of which $6,600 was collected from patients and the remainder was on account. Paid $1,200 on accounts payable. Purchased additional equipment for $2,450, paying $ 859 cash and leaving the balance on account. Paid salaries, $ 4,500: rent for September, $ 2,047; and advertising expenses, $ 179. Collected the balance of the accounts receivable from August 31. Withdrew $ 575 for personal use. Borrowed $2,000 from the Bank of Montreal on a note payable. Signed a contract to provide medical services, not covered under the government health plan, to employees of CRS Corp. in October for $ 4.700. CRS Corp. will pay the amount owing after the medical services have been provided. Received the telephone bill for September, $325. Billed the government $ 10.700 for services provided to patients in September. UL 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 mount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-13 for example.) Assets Accounts Receivable Cash Supplies Equipmei $ $ 2100 457 $ 2000 Bal. $ (1300) 1300 Sept. 4 5 6600 7 12 15 begung WIUTE AugusCJI Dalarices, prepare a ranurar anaiysis ore eitects or ne septemberansactions One 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 Illustration 1-13 for example) Liabilities + Owner's E Notes Payable Accounts Payable 1. Cullumber, Capital I. Cullumber, Drawings + 2000 $ 2000 $ 5097 $ Owner's Equity I. Cullumber, Capital 1. Cullumber, Drawings Revenues Expenses 5097 $ $ $ 10773 ws Prepare an income statement for September. IZABELA CULLUMBER, MD Income Statement $ $
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