Question: Dr L M Patton is an ophthalmologist As of December

Dr. L. M. Patton is an ophthalmologist. As of December 31, Dr. Patton owned the following property that related to his professional practice, Patton Eye Clinic:
Cash, $ 2,995
Professional Equipment, $ 63,000
Office Equipment, $ 8,450
On the same date, he owed the following business creditors:
Munez Supply Company, $ 3,816
Martin Equipment Sales, $ 3,728
Compute the following amounts in the accounting equation.
Assets $______ = Liabilities $______ + Owner’s Equity $______


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  • CreatedOctober 21, 2014
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