Dr. John Salvaggi is a chiropractor. As of December 31, he owned the following property that related
Question:
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.
![Dr. John Salvaggi is a chiropractor. As of December 31,](https://dsd5zvtm8ll6.cloudfront.net/si.question.images/image/images6/309-B-A-C-R(2201).png)
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.
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