Question
State the effects of the following transactions on the assets, liabilities, and capital of De Abanico. Enclose in parenthesis the deduction. 1. Dr. Abanico opened
State the effects of the following transactions on the assets, liabilities, and capital of
De Abanico. Enclose in parenthesis the deduction.
1. Dr. Abanico opened a dental clinic by investing
300,000 cash; land
200,000,
small building for clinic and office
1,800,000.
2. Purchased dental supplies for cash,
55, 000.
3. Purchased dental equipment from BB Trading on credit,
106,000.
4. Paid for promotion of the clinic,
10,000.
5. Completed dental work for J. Carlos and collected
12,000 therefore.
6. Paid
60,000 to BB Trading as partial settlement of the account.
7. Paid the dental assistant
's salary,
6,500.
8. Completed additional work for J. Carlos and collected
6,000 and a preliminary note
for the balance of
12,000 at the end of the month.
9. Paid the balance of the account due to BB Trading.
10. Withdrew
15,000 for personal use.
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