Question

Izabela Ivanhoe opened a medical office under the name Izabela Ivanhoe, MD, on August 1, 2021. On August 31, the balance shee
0 0
Add a comment Improve this question Transcribed image text
Answer #1
Assets = Liabilities + I. Ivanhoe Capital - I. Ivanhoe Drawings
Cash + Accounts Receivable + Supplies + Equipment = Notes Payable + Accounts Payable
Bal. $2,300 + $2,500 + $488 + $7,000 = $2,300 + $4,270 + $5,718 -
Sep. 4 $950 + ($950) + + = + + -
Sep. 5 $7,000 + $3,372 + + = + + $10,372 -
Sep. 7 ($1,200) + + + = + ($1,200) + -
Sep. 12 ($920) + ($1,663) + + $2,583 = + + -
Sep. 15 ($5,677) + + + = + + ($5,677) -
Sep. 18 $1,550 + ($1,550) + + = + + -
Sep. 20 ($700) + + + = + + - $700
Sep. 26 $2,300 + + + = $2,300 + + -
Sep. 28 + + + = + + -
Sep. 29 + + + = + $335 + ($335) -
Sep. 30 + $10,500 + + = + + $10,500 -
Total $5,603 + $12,209 + $488 + $9,583 = $4,600 + $3,405 + $20,578 - $700
Note: Sep. 28 no effect on any accounts as there is only contract for that, no amount has been received
Add a comment
Know the answer?
Add Answer to:
Izabela Ivanhoe opened a medical office under the name Izabela Ivanhoe, MD, on August 1, 2021....
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • /34918/assignments/3638945 Current Attempt in Progress RU A Izabela Ivanhoe opened a medical office under the name...

    /34918/assignments/3638945 Current Attempt in Progress RU A Izabela Ivanhoe opened a medical office under the name Izabela Ivanhoe, MD, on August 1, 2021. On August 31, the balance sheet showed Cash $2,300; Accounts Receivable $2,500; Supplies $488; Equipment $7,000; Accounts Payable $4.270, Note Payable $2,300, and Ivanhoe, Capital, $5,718. During September, the following transactions occurred: Sept. 4 Collected $950 of accounts receivable. 5 Provided services of $10,372, of which $7,000 was collected from patients and the remainder was on account....

  • Izabela Cullumber opened a medical office under the name Izabela Cullumber, MD, on August 1, 2021....

    Izabela Cullumber opened a medical office under the name Izabela Cullumber, MD, on August 1, 2021. On August 31, the balance sheet showed Cash $2,800; Accounts Receivable $2,500; Supplies $503; Equipment $7,000: Accounts Payable $4,080; Note Payable $2,800; and I. Cullumber, Capital, $5,923. During September, the following transactions occurred: Sept. 4 Collected $900 of accounts receivable. 5 Provided services of $10,869, of which $7,000 was collected from patients and the remainder was on account. 7 Paid $1,700 on accounts payable....

  • Current Attempt in Progress Izabela Sunland opened a medical office under the name Izabela Sunland, MD,...

    Current Attempt in Progress Izabela Sunland opened a medical office under the name Izabela Sunland, MD, on August 1, 2021. On August 31, the balance sheet showed Cash $3.000: Accounts Receivable $2.000; Supplies 5517. Equipment 57.100 Accounts Payable $4.810; Note Payable $3.000, and I. Sunland, Capital, $4,807. During September the following transactions occurred: Sept. 4 Collected $1.200 of accounts receivable 5 Provided services of $10,835, of which $7.100 was collected from patients and the remainder was on account. 7 Paid...

  • C Get Homnework Help W X C Presented Bekow Are E x C Presented Below Are...

    C Get Homnework Help W X C Presented Bekow Are E x C Presented Below Are EiX C rented Below Are E X + rses/34915/assignments/3638967 View Policies Current Attempt in Progress Izabela Sheridan opened a medical office under the name Izabela Sheridan, MD, on August 1, 2021. On August 31, the balance sheet showed Cash $2,900; Accounts Receivable $2,300; Supplies $497; Equipment $6,800; Accounts Payable $4,780; Note Payable $2,900; and 1. Sheridan, Capital, $4,817. During September, the following transactions occurred:...

  • question P1-8A 10. On March 31, she performed $3,500 of legal services on account. 11. On...

    question P1-8A 10. On March 31, she performed $3,500 of legal services on account. 11. On March 31, she received $2,500 cash for legal services to be provided in April. 12. On March 31, she paid her receptionist $500 for the week. 13. On March 31, she paid $400 for the supplies purchased on account on March 21. Instructions (a) Prepare a tabular analysis of the effects of the above transactions on the accounting equation. (6) Calculate profit and owner's...

  • low Polides Attenere 52 Arabelled $535, E S medical order the name re MO 2021 On...

    low Polides Attenere 52 Arabelled $535, E S medical order the name re MO 2021 On 31. the balance sheet POO Accounts Payable 4.700, Note Payable 52.100, and Oriol Capital 5.005. During September, the $2.300 AC wing transactions are ider was on count Sept 4 Collected $1.300 of our recevabile 5 Provided services 0220 w 36.900 was collected from plants and r 7 Puld $.00 on accounts payable 12 Purchadondoo 250 handling the 15 Pada 44100 for Sex 52004 and...

  • On July 31, 2022, the general ledger of Ivanhoe Leon Services Inc. showed the following balances:...

    On July 31, 2022, the general ledger of Ivanhoe Leon Services Inc. showed the following balances: Cash $4,160, Accounts Receivable $1,560, Supplies $520, Equipment $5,200, Accounts Payable $4,250, Common Stock $3,640, and Retained Earnings $3,540. During August, the following transactions occurred Aug 3 Collected $1,250 of accounts receivable due from customers S Received $1,350 cash for issuing common stock to new inwestors 6 Paid $2,810 cash on accounts payable 7 Performed legal services of 36,760, of which $3,120 was collected...

  • Problema 1-02A , b 3 (Part Level Submission) On August , the balance sheet of Bramble...

    Problema 1-02A , b 3 (Part Level Submission) On August , the balance sheet of Bramble Corp. showed cash $11,000, Accounts Receivable 53,700, Supplies $600, Equipment $5,000, Accounts Payable $5,000, Common Stock 514.900, and and Lang SBOD. During 1. Pad $3,450 cash for accounts payable due 2. Collected $1,500 of accounts receivable 3. Purchased ad bonaequent for $2.500, paying in a nd the balance on account 4. Recogniwed revenue of $6.500, of which $3,150 is collected in cash and the...

  • Judi Salem opened a law office on July 1, 2017. On July 31, the balance sheet...

    Judi Salem opened a law office on July 1, 2017. On July 31, the balance sheet showed Cash $5,000, Accounts Receivable $1,700, Supplies $500, Equipment $5,700, Accounts Payable $3,600, and Owner’s Capital $9,300. During August, the following transactions occurred. 1. Collected $1,400 of accounts receivable. 2. Paid $2,800 cash on accounts payable. 3. Recognized revenue of $7,700, of which $2,500 is collected in cash and the balance is due in September. 4. Purchased additional equipment for $2,100, paying $500 in...

  • View Policies Current Attempt in Progress Nancy Jackson opened a law office on July 1, 2020....

    View Policies Current Attempt in Progress Nancy Jackson opened a law office on July 1, 2020. On July 31, the balance sheet showed Cash $5,200, Accounts Receivable $1,900, Supplies $500, Equipment $6,300, Accounts Payable $4,300, and Owner's Capital $9,600. During August, the following transactions occurred. 1. Collected $1,600 of accounts receivable. 2. Paid $2,800 cash on accounts payable. 3. Recognized revenue of $8,500, of which $3,200 is collected in cash and the balance is due in September. Purchased additional equipment...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT