Jul

6 Cohen invested $149,000 in the business, which in turn issued its common stock to her

9 the business paid cash for land cost in $62,000 calling plans to build an office building on the land

12 The business purchased medical supplies for $1700 on account

15-31 During the rest of the month, Cohen treated patients and arned service revenue of $9,000, recieving cash fo rhalf the revenue earned.15 dr. Christine Cohen, P.C. officially opened for business

15-31 The business paid cash expenses: employee salaries, $3000:office rent, $700: utilities, $1100

31 The business sold supplies to another physician for the cost of $900 and recieved cash

31 The business borrowed $34,000, signing a note payable to the bank

31 The business paid $700 on account

1. After journalizing the transactions in the previous exercise, post the entries to the ledger, using T-accounts. Key transactions by date.

2. Prepare the trial balance of Dr Kristine COhen, P.C., at July 31, 2016.

3. From the trial balance, determine total assets, total liabilities, and total stockholders' equity on July 31.

Requirement 1. Analyze the effects of these events on the accounting equation of the medical practice of Dr.

Cohen,

Begin with the first transaction on

July

6. (Use parentheses or a minus sign when decreasing accounts. If a box is not used in the table leave the box empty; do not enter a zero. Enter the transactions in the same order as they appear in the original list.)

Assets

=

Liabilities

+

Stockholders' Equity

Accts

Medical

Accts

Note

Common

Retained

Type of Equity

Cash

+

Rec.

+

Supplies

+

Land

=

Pay.

+

Payable

+

Stock

+

Earnings

Transaction

Jul 6

Salary expense

please tell me type of equity: Types of equity transactions: Dividends, Issued Stock, Rent Expense, Salary Expense, Service Revenue, Utilities Expense