Question: Please answer the questions in the box, and create a same chart as the picture shows. Thank you a Simpson opened a medical practice. During
a Simpson opened a medical practice. During July,the first month of operation, the business,titled Kira Simpsn, MD, (Click the icon to view the transactions.) nalyze the effects of these events on the accounting equation of the medical practice of Kira Simpson, M M.D. nalyze the events chronologically, one transaction at a time. Beginning with the transaction on the 6th, calculate the balance in each account after analyzing t Complete only the necessary answer boxes for your transaction lines. [Do not enter any ny zero balances. Enter a decrease in Revenue, Sal. Salaries, Sup Supplies; Withdr. Simpson, Withdrawals.) zeros for your transaction lines ] Carry down all balances to the "Bal." an account with a minus sign or parentheses. Abbreviations used A/P Accounts Payable, Cap. Simpson, Capital, E ASSETS LIAB. EQUITY Cash + Med + Land AP + Cap . withdr + Service. Sal Rent Utilities Sup Rev Exp Exp Exp 716 72,000+ 72,000 More Info July 6 Simpson contributed $72,000 in the business by opening a bank account in the name of K. Simpson, M.D. The business gave capital to Simpson. 9 Paid $35,000 cash for land 12 Purchased medical supplies for $2,100 on account 15 Officially opened for business. 20 Paid cash expenses: employees salaries, $1,100; office rent, $800; utilitles $600 31 Eaned service revenue for the month, $12,000, receiving cash. 31 Paid $1,550 on account. Print Done Enter any number in the edit fields and then click Check
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