Question

Samantha Stamford opened a medical practice. During July, the first month of operation, the business, titled Samantha Stamford, M.D., experienced the following events:
July 6 Stamford contributed $65,000 in the business by opening a bank account in the name of S. Stamford, M.D. The corporation issued common stock to Stamford.
9 Paid $52,000 cash for land.
12 Purchased medical supplies for $ 1,600 on account.
15 Officially opened for business.
20 Paid cash expenses: employees' salaries, $1,500; office rent, $1,300; utilities, $350.
31 Earned service revenue for the month, $8,000, receiving cash.
31 Paid $800 on account.
Analyze the effects of these events on the accounting equation of the medical practice of Samantha Stamford, M.D., using the following format:


$1.99
Sales7
Views508
Comments0
  • CreatedJune 12, 2015
  • Files Included
Post your question
5000