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able[[Aug,6,Favata invested $153,000 in the business, which in turn issued its common stock to her.],[Aug,9, able[[The business paid cash for land costing $60,000. Favata plans to build an office building],[on the land.]]],[Aug,12,The business purchased medical supplies for $2,100 on account.],[Aug,15,Dr. Jaqueline Favata, P.C., officially opened for business.],[Aug,15-31, able[[During the rest of the month, Favata treated patients and earned service revenue of],[$9,300, receiving cash for half the revenue earned.]]],[Aug,15-31, able[[The business paid cash expenses: employee salaries, $3,200; office rent, $800; utilities,],[$900. (Record the cash amount as a total and identify and record any other],[amounts separately.)]]],[Aug,31,The business sold supplies to another physician for cost of $200 and received cash.],[Aug,31,The business borrowed $39,000, signing a note payable to the bank.],[Aug,31,The business paid $1,400 on account.]]
Dr. Jaqueline Favata opened a medical practice specializing in physical therapy. During the first month of operation (August), the business, titled Dr. Jaqueline Favata, Professional Corporation (P.C.), experienced the following events:
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Read the requirements.
Requirement 1. Analyze the effects of these events on the accounting equation of the medical practice of Dr. Jaqueline Favata, P.C.
Begin with the first transaction on August 6. (Use parentheses or a minus sign when decreasing accounts. If an input field is not used in the table leave the field empty; do not enter a zero. Enter the transactions in the same order as they appear in the original list.)
( Assets )/( Accts Medical )=( Liabilities )/( Accts )+ Note + Common Retair. Jaqueline Favata opened a medical practice specializing in physical therapy. During the first month of operation (August), the business, titled Dr. Jaqueline Favata, Professional Corporation (P.C.), experienced the following events:
(Click the icon to view the events.)
Read the requirements.
Requirement 1. Analyze the effects of these events on the accounting equation of the medical practice of Dr. Jaqueline Favata, P.C.
Begin with the first transaction on August 6. (Use parentheses or a minus sign when decreasing accounts. If an input field is not used in the table leave the field empty; do not enter a zero. Enter the transactions in the same order as they appear in the original list.)
( Assets )/( Accts Medical )=( Liabilities )/( Accts )+( Note )/( Cash + Rec. + Supplies + Land )= Pay + Payable + Stock + Earnings
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uirements.
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able[[Aug,6,Favata invested $153,000 in the business, which in turn issued its common stock to her.],[Aug,9, able[[The business paid cash for land costing $60,000. Favata plans to build an office building],[on the land.]]],[Aug,12,The business purchased medical supplies for $2,100 on account.],[Aug,15,Dr. Jaqueline Favata, P.C., officially opened for business.],[Aug,15-31, able[[During the rest of the month, Favata treated patients and earned service revenue of],[$9,300, receiving cash for half the revenue earned.]]],[Aug,15-31, able[[The business paid cash expenses: employee salaries, $3,200; office rent, $800; utilities,],[$900. (Record the cash amount as a total and identify and record any other],[amounts separately.)]]],[Aug,31,The business sold supplies to another physician for cost of $200 and received cash.],[Aug,31,The business borrowed $39,000, signing a note payable to the bank.],[Aug,31,The business paid $1,400 on account.]]
Corporation (P.C.), experienced the following events:
(Click the icon to view the events.)
Read the requirements.
Requirement 1. Analyze the effects of these events on the accounting equation of the medical practice of Dr. Jaqueline Favata, P.C. transactions in the same order as they appear in the original list.)
( Assets )/( Accts , Medical )=( Liabilities )/( Accts )+( Stockholders' Equity )/( Common Retained Type of Equity )
Cash + Rec. + Supplies + Land = Pay + Payable + Stock + Earnings Transaction
Aug 6
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Aug Aug
6 Favata invested $153,000 in the business,which in turn issued its common stock to her. 9 The business paid cash for land costing $60,000.Favata plans to build an office building on the land. Aug 12 The business purchased medical supplies for $2,100 on account Aug 15 Dr.Jaqueline Favata,P.C.,officially opened for business. Aug 15-31 During the rest of the month, Favata treated patients and earned service revenue of $9,300,receiving cash for half the revenue earned Aug 15-31 The business paid cash expenses:employee salaries,$3,200; office rent,$800; utilities, $900.(Record the cash amount as a total and identify and record any other amounts separately.) Aug 31 The business sold supplies to another physician for cost of $200 and received cash. Aug 31 The business borrowed $39,000, signing a note payable to the bank. Aug 31 The business paid $1,400 on account
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