Question

Dr. John Salvaggi is a chiropractor. As of December 31, he owned the following property that related to his professional practice.
Cash ................ $ 3,500
Office Equipment .......... 6,400
X-ray Equipment ........... 10,220
Laboratory Equipment ........ 6,840
He also owes the following business suppliers:
Chateau Gas Company ....... $ 3,430
Aloe Medical Supply Company ...... 4,120

REQUIRED
1. From the preceding information, compute the accounting elements and enter them in the accounting equation shown as follows.


2. During January, the assets increase by $8,540, and the liabilities increase by $3,360. Compute the resulting accounting equation.
3. During February, the assets decrease by $3,460, and the liabilities increase by $2,000. Compute the resulting accountingequation.


$1.99
Sales3
Views563
Comments0
  • CreatedJune 07, 2014
  • Files Included
Post your question
5000