The following transactions were made during the month of March by Dr. Scott Braunstein: He opened his
Question:
The following transactions were made during the month of March by Dr. Scott Braunstein:
He opened his practice by investing $50,000 in the business.
Purchased office equipment for $27,000 on account of Medical Products, Inc.
He paid $2,000 for various medical supplies for the office.
Received $11,600 in fees earned during the first month of trading
Office rent paid for the month, $900
Physician assistant salary paid for the month, $1,800
Paid Medical Products, Inc. $3,000 on account
You withdrew $1,500 for personal use. .
Enter each transaction in the following form:
Assets = Liabilities + Owner's Equity | |||||
Money | + Supplies | + Equipment | = Accounts payable | + Capital | |
(1) | |||||
(2) | _______ | _______ | _______ | _______ | _______ |
Balance | |||||
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman