Analyze the events chronologically, one transaction at a time, beginning with the transaction on day 6. Foreach

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Question:

Analyze the events chronologically, one transaction at a time, beginning with the transaction on day 6. Foreach transaction that follows the transaction on day 6, calculate the balance in each account after analyzing its effect on the accounting equation. (Complete only the answer boxes necessary for your transaction lines. [Do not enter zeros for your transaction lines.] For transactions with the same date, be sure to enter each transaction on a separate line in the order presented in the problem. Bring all balances to the "Bal." line, including accounts with a zero balance, entering a "0" for any zero balance. Enter a decrease in an account with a minus sign or parentheses. Abbreviations used: A/P = Accounts payable; Com. = Common; Contr. = Contributed; Div. = Dividends; Exp. = expense; Passive. = Passive; Med. = Doctor; Rev. = Income ; Sal. = Wages; Sup. = Supplies.)

Assets

Red.

Equity

Contr.

Capital

Retained earnings

Money

Medicine.

Tierra

A/P

COM.

division

Service

Sal.

Rent

utilities

Sorber.

Stock

Rdo.

Exp.

7/6

MORE INFORMATION

July 6th		He received a $75,000 contribution from Stein and opened a bank account in the name of P.Stein MD. The corporation issued common stock to Stein
9		He paid $46,000 in cash for the land.
12		Medical supplies purchased for $1600 or on account
15		Officially open for business.
20		Expenses paid in cash: Employee wages, $1,200; office rent, $700; utilities, $340
31		Earned service income for the month, $14,000, receiving cash.
31		He paid $900 on account.