K 716 Kira Steinbeck opened a medical practice. During July, the first month of operation, the business, titled Kira Steinbeck, 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 Kira Steinbeck, M.D. Jul. 6 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. = Steinbeck, Capital; Exp. = Expense; Liab. = Liabilities; Med. = Medical; Rev. = Revenue; Sal. = Salaries; Sup. = Supplies; Withdr. = Steinbeck, Withdrawals.) More info Jul. 9 Jul. 12 Jul. 15 Cash Jul. 20 Jul. 31 Jul. 31 ASSETS + Med. + Land = Sup. 2,300 + 58,000 = + = LIAB. + A/P Part 1 of 7 + Cap. + 72,000 Withdr. + Service - Rev. + Steinbeck contributed $72,000 in the business by opening a bank account in the name of K. Steinbeck, MD. The business gave capital to to Steinbeck. Paid $58,000 cash for land. EQUITY Purchased medical supplies for $2,300 on account. Officially opened for business. Paid cash expenses: employees' salaries, $1,700; office rent, $700; utilities, $500. Earned service revenue for the month, $15,000, receiving cash. Paid $1,700 on account. - X HW Score: 18.71%, 5.8 of 31 points Points: 0 of 10 Sal. Exp. Rent Exp. - Utilities Exp. Save Clear all Check answer
K 716 Kira Steinbeck opened a medical practice. During July, the first month of operation, the business, titled Kira Steinbeck, 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 Kira Steinbeck, M.D. Jul. 6 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. = Steinbeck, Capital; Exp. = Expense; Liab. = Liabilities; Med. = Medical; Rev. = Revenue; Sal. = Salaries; Sup. = Supplies; Withdr. = Steinbeck, Withdrawals.) More info Jul. 9 Jul. 12 Jul. 15 Cash Jul. 20 Jul. 31 Jul. 31 ASSETS + Med. + Land = Sup. 2,300 + 58,000 = + = LIAB. + A/P Part 1 of 7 + Cap. + 72,000 Withdr. + Service - Rev. + Steinbeck contributed $72,000 in the business by opening a bank account in the name of K. Steinbeck, MD. The business gave capital to to Steinbeck. Paid $58,000 cash for land. EQUITY Purchased medical supplies for $2,300 on account. Officially opened for business. Paid cash expenses: employees' salaries, $1,700; office rent, $700; utilities, $500. Earned service revenue for the month, $15,000, receiving cash. Paid $1,700 on account. - X HW Score: 18.71%, 5.8 of 31 points Points: 0 of 10 Sal. Exp. Rent Exp. - Utilities Exp. Save Clear all Check answer
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter4: Completing The Accounting Cycle
Section: Chapter Questions
Problem 5PA: For the past several years, Steffy Lopez has operated a part-time consulting business from his home....
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I need help with the fill in the blanks
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work: Ch 1 Homework B - Graded
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m/Student/PlayerHomework.aspx?homeworkId=632839856&questionId=1&flushed=false&cid=7098687¢erwin=yes
n8
solve this
K
7/6
Jul. 6
More info
Cash
Jul. 9
Jul. 12
Jul. 15
Jul. 20
Jul. 31
Jul. 31
Kira Steinbeck opened a medical practice. During July, the first month of operation, the business, titled Kira Steinbeck, 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 Kira Steinbeck, M.D.
ASSETS
+ Med. + Land =
Sup.
2,300 +
<
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. = Steinbeck, Capital; Exp. =
Expense; Liab. = Liabilities; Med. = Medical; Rev. = Revenue; Sal. = Salaries; Sup. = Supplies; Withdr. = Steinbeck, Withdrawals.)
+
Question 5, EF1-29 (similar to)
Part 1 of 7
58,000 =
LIAB. +
A/P + Cap.
+
72,000 -
EQUITY
Withdr. + Service - Sal.
Rev.
Exp.
+
Steinbeck contributed $72,000 in the business by opening a bank account in the
name of K. Steinbeck, MD. The business gave capital to to Steinbeck.
Paid $58,000 cash for land.
Purchased medical supplies for $2,300 on account.
Officially opened for business.
Paid cash expenses: employees' salaries, $1,700; office rent, $700; utilities, $500.
Earned service revenue for the month, $15,000, receiving cash.
Paid $1,700 on account.
>
MacBook Air
- X
-
HW Score: 18.71%, 5.8 of 31 points
Points: 0 of 10
Rent
Exp.
alexis Halloran
- Utilities
Exp.
.
09/03/22 7:11 PM
Clear all
Save
Ⓒ
Check answer](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F446a1456-4868-4837-8488-1293d990f03b%2F5c341199-7294-49ab-88f0-4e878dba81fb%2F82qqo9j_processed.jpeg&w=3840&q=75)
Transcribed Image Text:702089
work: Ch 1 Homework B - Graded
n list
-n 1
n 2
n 3
n 4
n 5
n 6
n 7
m/Student/PlayerHomework.aspx?homeworkId=632839856&questionId=1&flushed=false&cid=7098687¢erwin=yes
n8
solve this
K
7/6
Jul. 6
More info
Cash
Jul. 9
Jul. 12
Jul. 15
Jul. 20
Jul. 31
Jul. 31
Kira Steinbeck opened a medical practice. During July, the first month of operation, the business, titled Kira Steinbeck, 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 Kira Steinbeck, M.D.
ASSETS
+ Med. + Land =
Sup.
2,300 +
<
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. = Steinbeck, Capital; Exp. =
Expense; Liab. = Liabilities; Med. = Medical; Rev. = Revenue; Sal. = Salaries; Sup. = Supplies; Withdr. = Steinbeck, Withdrawals.)
+
Question 5, EF1-29 (similar to)
Part 1 of 7
58,000 =
LIAB. +
A/P + Cap.
+
72,000 -
EQUITY
Withdr. + Service - Sal.
Rev.
Exp.
+
Steinbeck contributed $72,000 in the business by opening a bank account in the
name of K. Steinbeck, MD. The business gave capital to to Steinbeck.
Paid $58,000 cash for land.
Purchased medical supplies for $2,300 on account.
Officially opened for business.
Paid cash expenses: employees' salaries, $1,700; office rent, $700; utilities, $500.
Earned service revenue for the month, $15,000, receiving cash.
Paid $1,700 on account.
>
MacBook Air
- X
-
HW Score: 18.71%, 5.8 of 31 points
Points: 0 of 10
Rent
Exp.
alexis Halloran
- Utilities
Exp.
.
09/03/22 7:11 PM
Clear all
Save
Ⓒ
Check answer
![不
Jul. 6
Rifa Steinbeck opened a medical practice. During July, the first month of operation, the business, titled Kira Steinbeck, 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 Kira Steinbeck, 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. Steinbeck, Capital; Exp. =
Expense; Liab. = Liabilities; Med. = Medical; Rev. Revenue; Sal. = Salaries; Sup. Supplies; Withdr. Steinbeck, Withdrawals.)
7/6
More info
Jul. 9
Jul. 12
Jul. 15
Jul. 20
Jul. 31
Jul. 31
Cash
ASSETS
+ Med.
up.
2,300+ 58,000 =
+
+ Land B
LIAB. +
A/P
+ Cap.
+
72,000
Withdr. +
+
Steinbeck contributed $72,000 in the business by opening a bank account in the
name of K. Steinbeck, MD. The business gave capital to to Steinbeck.
Paid $58,000 cash for land.
Purchased medical supplies for $2,300 on account.
Officially opened for business.
Paid cash expenses; employees' salaries, $1,700; office rent, $700; utilities, $500.
Earned service revenue for the month, $15,000, receiving cash.
Paid $1,700 on account.
EQUITY
Service -
Rev.
Sal.
Exp.
-
Rent
Exp.
Utilities
Exp.
Clear all
Check answer](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F446a1456-4868-4837-8488-1293d990f03b%2F5c341199-7294-49ab-88f0-4e878dba81fb%2Fzlnyi2_processed.jpeg&w=3840&q=75)
Transcribed Image Text:不
Jul. 6
Rifa Steinbeck opened a medical practice. During July, the first month of operation, the business, titled Kira Steinbeck, 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 Kira Steinbeck, 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. Steinbeck, Capital; Exp. =
Expense; Liab. = Liabilities; Med. = Medical; Rev. Revenue; Sal. = Salaries; Sup. Supplies; Withdr. Steinbeck, Withdrawals.)
7/6
More info
Jul. 9
Jul. 12
Jul. 15
Jul. 20
Jul. 31
Jul. 31
Cash
ASSETS
+ Med.
up.
2,300+ 58,000 =
+
+ Land B
LIAB. +
A/P
+ Cap.
+
72,000
Withdr. +
+
Steinbeck contributed $72,000 in the business by opening a bank account in the
name of K. Steinbeck, MD. The business gave capital to to Steinbeck.
Paid $58,000 cash for land.
Purchased medical supplies for $2,300 on account.
Officially opened for business.
Paid cash expenses; employees' salaries, $1,700; office rent, $700; utilities, $500.
Earned service revenue for the month, $15,000, receiving cash.
Paid $1,700 on account.
EQUITY
Service -
Rev.
Sal.
Exp.
-
Rent
Exp.
Utilities
Exp.
Clear all
Check answer
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