omework: Chapter 1 Homework Assignment core: 0 of 10 pts 1-29 (similar to) 11 of

ID: 2332577 • Letter: O

Question

omework: Chapter 1 Homework Assignment core: 0 of 10 pts 1-29 (similar to) 11 of 13 (5 HW Score: 12 81%, 1281 of 100 Help he accounting used NP Accounts Payable Cap.- Stanley, Capital, Exp Expense, Liab Libiies Med. Medicat Rev Revinue. Sal ASSETS RentUtile account in the name of S Stanley, MD The business gave capital to 9 Paid 560 000 cash for land 15 Officialy opened for business 20 Paid cash expenses employees salarkes, $800 office rent, $1,500 31 Eamed service revenue for the manth 56.000, recelving cash 1 Paid 52 150 on account

Explanation / Answer

Accounting equation

Assets=

Liabilities+

Equity

Date

Cash+

Medical Supplies +

Land=

Accounts Payable

Capital-

Withdr+

Service Revenue-

Sal Expense-

Rent Exp-

Utilities Exp

07/06

$ 72,000.00

$72,000.00

07/09

$ (60,000.00)

$ 60,000.00

07/12

$ 2,600.00

$2,600.00

07/15

07/20

$ (2850.00)

$ 800.00

$1,500.00

$ 550.00

7/31

$ 6,000.00

07/31

$ (2,150.00)

$(2,150.00)

Balance

$ 13,000.00

$ 2,600.00

$ 60,000.00

$ 450.00

$72,000.00

$ -

$ 6,000.00

$ 800.00

$1,500.00

$ 550.00

Amounts in brackets indicate negative amounts.