(a). Using the list of transactions at question A5.5 prepare a spreadsheet similar to that presented in Table5.3.

(b). Show that the spreadsheet totals satisfy the accounting equation.

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Table 5.3 Spreadsheet analysing transactions into the elements of the accounting equation Asets Liabiltie Ownertip hteret Bushes tarsad bns of the ertity (nature of the etty, medical pradice) Cash and Trade Ivertay Capital Experses Date Non- Trade pay able core buted or (radtod Revenue bank recble stock) arrert (debtor) azds withdwn Od. 1 DrLee provides the pacticewith cash to allaw business to start 50,000 50,000 Oct. 2 The entty acquires medcal equipmentfor ash (30,000) 30000 Oct. 2 One monthis entis paid in advance for consuting rooms (1,900) 1,900 Oct. 2 Office fumitue is purhased on two mon ths'cred t from Office Supplies Сопраry 6500 6,500 The practice purchases medcal supplies on credtfrom P. Jones and receives aninvoice Ot. 7 1,200 1,200 DrLee pays the medial receptionist for one week's work, 2 b8 Ocbber Oct. 8 Od. 10 (300) 300 Fourpatients are ox armrined each paying £S00 cah 2,000 2,000 Oct. 11 The business pays P. Jones in cash for te goods itacquiredon credit (1.200) (1,200) (100) Oct. 14 The business pays an electricity bil in cash 100 Od. 15 DrLee pays the medial reeptiorist for oneweek'swork, 9 to 15October (300) 300 Oct. 17 Three patients are examined, teir employer (Mrs West) beingsentaninvoice requesting payment of £500 foreach 1,500 1,500 Od. 22 Dr Lee pays the medical receptionist for one weeks work, 16 b 22 October (300) 300 Od. 23 The employer (Mrs West) pays in cash forthe exarmination of three patierts 1,500 (1 500) Oct. 24 Fourpatent are examined, heir employer (Mr East) beingsentaninvoice requesting payment of £S00 foreach 2,000 2,000 Od. 28 DrLee daws ash from the business for personal use (1,000) (1p00) Oct. 29 Dr Lee pays the medical receptoristfor one week's work, 23 b 29 October (300) 300 Oct. 31 The medial equ ipment and office furniture is estimated by Dr Lee tb hae fallen in value Over the mon th (250) 250 Od. 31 350) DrLee checis the inventory (stock) of medial supplies and findsthat terns costing f350 have been used durdng the month 350 t to t Totaks 18,100 2,000 850 36250 6,500 49,000 5,500 3800 57,200 50 700