Analyze the effects of these events on the accounting equation of the medical practice of Emily Stein, M.D. Analyze the even account after ana transactions with balance accounts Expense; Liab= 7/6 Cash More info Jul. 6 Stein contributed $60,000 in the business by opening a bank account in the name of E. Stein, MD. The business gave capital to to Stein. Paid $50,000 cash for land Purchased medical supplies for $1,900 on account. Officially opened for business. Jul. 9 Jul. 12 Jul. 15 Jul. 20 Jul. 31 Jul. 31. Paid $1,400 on account. Paid cash expenses: employees' salaries, $1,800; office rent, $1,400, utilities, $300. Eamed service revenue for the month, $9,000, receiving cash. Print Done X ws the transaction on the 6th, calculate the Do not enter any zeros for your transaction in all balances to the "Bal" line, including z hs used: A/P = Accounts Payable; Cap. S

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Emily Stein opened a medical practice. During July, the first month of operation, the business, titled Emily Stein, M.D., experienced the following events:
(Click the icon to view the transactions.)
Analyze the effects of these events on the accounting equation of the medical practice of Emily Stein, M.D.
Analyze the even
account after ana
transactions with
balance accounts
Expense; Liab,
7/6
Cash
More info
Jul. 6
Jul. 9
Jul. 12
Jul. 15
Jul. 20
Jul. 31
Jul. 31.
Stein contributed $60,000 in the business by opening a bank account in the name of
E. Stein, MD. The business gave capital to to Stein.
Paid $50,000 cash for land.
Purchased medical supplies for $1,900 on account.
Officially opened for business.
Paid cash expenses: employees' salaries, $1,800; office rent, $1,400, utilities, $300.
Eamed service revenue for the month, $9,000, receiving cash.
Paid $1,400 on account.
Print
Done
X
ws the transaction on the 6th, calculate the ba
Do not enter any zeros for your transaction line
n all balances to the "Bal." line, including zerc
hs used: A/P = Accounts Payable; Cap. Stei
Transcribed Image Text:Emily Stein opened a medical practice. During July, the first month of operation, the business, titled Emily Stein, M.D., experienced the following events: (Click the icon to view the transactions.) Analyze the effects of these events on the accounting equation of the medical practice of Emily Stein, M.D. Analyze the even account after ana transactions with balance accounts Expense; Liab, 7/6 Cash More info Jul. 6 Jul. 9 Jul. 12 Jul. 15 Jul. 20 Jul. 31 Jul. 31. Stein contributed $60,000 in the business by opening a bank account in the name of E. Stein, MD. The business gave capital to to Stein. Paid $50,000 cash for land. Purchased medical supplies for $1,900 on account. Officially opened for business. Paid cash expenses: employees' salaries, $1,800; office rent, $1,400, utilities, $300. Eamed service revenue for the month, $9,000, receiving cash. Paid $1,400 on account. Print Done X ws the transaction on the 6th, calculate the ba Do not enter any zeros for your transaction line n all balances to the "Bal." line, including zerc hs used: A/P = Accounts Payable; Cap. Stei
K
Ey Stein opened a medical practice. During July, the first month of operation, the business, titled Emily Stein, M.D., experienced the following events:
(Click the icon to view the transactions)
Analyze the effects of these events on the accounting equation of the medical practice of Emily Stein, M.D.
Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 6th. For each transaction that follows the transaction on the 6th, calculate the balance in each
account after analyzing its effect on the accounting equation. (Complete only the necessary answer boxes for your transaction lines. Do not enter any zeros for your transaction lines) For
transactions with the same date, be sure to enter each transaction on a separate line in the order presented in the problem. Carry down all balances to the "Bal"line, including zero
balance accounts, entering a "0" for any zero balances. Enter a decrease in an account with a minus sign or parentheses Abbreviations used: A/P Accounts Payable: Cap. Stein, Capital; Exp =
Expense; Lab Liabilities: Med Medical Rev Revenue: Sal-Salaries, Sup Supplies: Withdr Stein, Withdrawals)
EQUITY
716
ASSETS
Med
Cash +
Sup
. LIAB .
A/P .
. Land =
COTE
Cap.
Withdr Service-
Rev
Sal
Exp
Rent
Exp
-Unities
Exp
Transcribed Image Text:K Ey Stein opened a medical practice. During July, the first month of operation, the business, titled Emily Stein, M.D., experienced the following events: (Click the icon to view the transactions) Analyze the effects of these events on the accounting equation of the medical practice of Emily Stein, M.D. Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 6th. For each transaction that follows the transaction on the 6th, calculate the balance in each account after analyzing its effect on the accounting equation. (Complete only the necessary answer boxes for your transaction lines. Do not enter any zeros for your transaction lines) For transactions with the same date, be sure to enter each transaction on a separate line in the order presented in the problem. Carry down all balances to the "Bal"line, including zero balance accounts, entering a "0" for any zero balances. Enter a decrease in an account with a minus sign or parentheses Abbreviations used: A/P Accounts Payable: Cap. Stein, Capital; Exp = Expense; Lab Liabilities: Med Medical Rev Revenue: Sal-Salaries, Sup Supplies: Withdr Stein, Withdrawals) EQUITY 716 ASSETS Med Cash + Sup . LIAB . A/P . . Land = COTE Cap. Withdr Service- Rev Sal Exp Rent Exp -Unities Exp
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