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this is all the requirement, and according to the information below, satisfied the requirement and fill in the blank. 1. Analyze the effects of these
this is all the requirement, and according to the information below, satisfied the requirement and fill in the blank.
1. Analyze the effects of these events on the accounting equation of the practice of Harry Samson Dental Clinic Ltd. 2. After completing the analysis, answer these questions about the business: a. How much are total assets? b. How much does the business expect to collect from patients? How much does the business owe in total? C. d. How much of the business's assets does Samson really own? e. How much net income or net loss did the business experience during its first month of operations? May 6 Samson invested $36,000 in the business, which in turn issued its common shares to him. 9 The business paid cash for land costing $34,000. Samson plans to build a professional services building on the land. 12 The business purchased dental supplies for $2,100 on account. 15 Harry Samson Dental Clinic Ltd. officially opened for business. 15-31 During the rest of the month, Samson treated patients and earned service revenue of $2,700, receiving cash for half the revenue earned 15-31 The practice paid cash expenses: employee salaries, $1,300; office rent, $800; utilities, $1,800 31 The practice used dental supplies with a cost of $900. 31 The practice borrowed $15,000, signing a note payable to the bank. 31 The practice paid $900 on account the accounting equation of the medical practice of Harry Samson Dental Clinic Ltd. Requirement 1. Analyze the effects of these events Begin with the first transaction on May 6. (Use parentheses or a minus sign for numbers to be subtracted. Only complete the necessary answer boxes. Enter the transactions list. Leave unused cells blank.) the same order as they appear the original Shareholders' Equity Assets Liabilities Dental Accts Accts Note Common Retained Type of Equity Payable Supplies Cash + Rec. Land Pay Shares Eanings Transaction May 6Step by Step Solution
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