Question

i More Info on iew Dec ze the sact e trang 6 Samoa invested $150,000 in the business, which in turn issued its common stock to her. 9 The business paid cash for land costing $64,000. Samoa plans to build an office building on the land. 12 The business purchased medical supplies for $2,400 on account. 15 Dr. Helen Samoa, P.C., officially opened for business. 15-31 During the rest of the month, Samoa treated patients and earned service revenue of $9,800, receiving cash for half the revenue earned. 15-31 The business paid cash expenses: employee salaries, $3,600; office rent, $900; utilities, $400. (Record the cash amount as a total and identify and record any other amounts separately.) 31 The business sold supplies to another physician for cost of $1,000 and received cash. 31 The business borrowed $34,000, signing a note payable to the bank. 31 The business paid $1,300 on account. Acq Re et or en Print Done Check Clear All OBIŚ e @ B9

Answer 1

SOLUTION:

+ Note Payable Stockholders' Equity Common Retained Type of stock Earnings Equity Tr. 150,000 Yes No No Assets Liabilities Accts Medical Accts Cash Rec Supplies Land = Pay Dec. 6 (150,000) Dec. 9 (64,000) 64,000 Dec. 12 2,400 2,400 Dec. 15 Dec. 15-314 ,900 4,900 Dec. 15-31 (4,900) Dec. 311 ,000 (1,000) Dec. 31 34000 Dec. 6 (1,300)| (1,300) 9,800 Yes 4,900 Yes No 34000 No

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