Question: Homework: Graded MAL HW # 2 [ Ch . 2] Fall 2019 Score: 9.33 of 14 pts HW Score: 95.23%, 221.89 o 9 of 9

 Homework: Graded MAL HW # 2 [ Ch . 2] Fall

Homework: Graded MAL HW # 2 [ Ch . 2] Fall 2019 Score: 9.33 of 14 pts HW Score: 95.23%, 221.89 o 9 of 9 (9 complete) Instructor-created question Question He Dr. Anna Grayson opened a medical practice. During the first month of operations (August), the business, named Dr. Anna Grayson Professional Corporation (P.C.), had the following events: EE(Click the icon to view the events.) Calculate total assets, total liabilities, and total stockholders' equity of the business on August 31. Total assetc Total Jiabilities. Total stockholders' equity Data Table Aug 6 Grayson invested $139,000 in the business, which in tun issued its common stock to her. The business paid cash for land costing $57,000. Grayson plans to build an office building on the land. The business purchased medical supplies for $1,800 on account Dr. Anna Grayson, P.C. officially opened for business. 12 15 15-31 During the rest of the month, Grayson treated patients and earned service revenue of $9,300, receiving cash for half the revenue earned. The business paid cash expenses: employee salaries, $3,100; office rent, $1,000; utilities, $1,600. The business sold supplies to another physician for cost of $400. The business borrowed $30,000, signing a note payable to the bank. 15-31 31 31 31 The business paid $1,400 on account Print Done

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!