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More Info on the land. 12 The business purchased medical supplies for $1,700 on account. 15-31 During the rest of the month, Fleming treated patients and earned service revenue of 15-31 The business paid cash expenses: employee salaries, $3,600; office rent, $1,400; 15 Dr: Kim Fleming PC.,offil opened for business, $9,700, receiving cash for half the revenue earned. 31 31 31 utilities, $900. (Record the cash amount as a total and identify and record any other amounts separately.) The business sold supplies to another physician for cost of $300 and received cash. The business borrowed $35,000, signing a note payable to the bank. The business paid $1,300 on account.Dr. Kim Fleming opened a medical practice specializing in physical therapy. During the first month of operation (December), the business, titled Dr. Kim Fleming, Professional Corporation (P.C.), experienced the following events: (Click the icon to view the events.) Read the requirements. Requirement 1. Analyze the effects of these events on the accounting equation of the medical practice of Dr. Kim Fleming, P.C. Begin with the first transaction on December 6. (Use parentheses or a minus sign when decreasing accounts. If a box is not used in the table leave the box empty; do not enter a zero. Enter the transactions in the same order as they appear in the original list.) Assets Liabilities + Stockholders Equity Accts Medica CashRec SuppliesLand Accts Comon Retained Type of Equity Pay. Payable StockEarnings Transaction Dec 6 12 15 15-31 15-31Read the requirements Pay. PayableStockEarnings Transaction Cash Rec. SuppliesLandPay Dec 6 12 15 15-31 15-31 Bal TotaRequirement 2. After completing the analysis, answer these questions about the business a. How much are total assets?$ b. How much does the business expect to collect from patients? $ c. How much does the business owe in total? d. How much of the businesss assets does Fleming really own? e. How much net income or net loss did the business experience during its first month of operations? (Enter the amount as a positive value) The business experienced of $ during its first month of operations.

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Assets (in $) Liabilities( in $) +Stockholders Equity(in $) Retained Earnings Type of equity transaction Accounts Common Date Cash Receivable Supplies Land A. Payable Note payable Stock Issuance of Stock 6-De 153,000.00 9-De (59,000.00) 153,000.00 59,000.00 12-Dec 15-31 ded 15-31 ded 31-Dec 31-Dec 1,700.00 1,700.00 4,850.00 (5,000.00) 300.00 35,000.00 31-Dec(1,300.00) 4,850.00 9,700.00 (5,000.00 xpense Income (300.00) 35,000.0O (1,300.00) 127,850.00 4,850.00 1,400.00 9,000.00 400.00 35,000.0O 153,000.00 4,700.00 a) 193,100.00 b) c) 35,400.00 d) 157,700.00 e Net Income of $4700 4,850.00

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