Question

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: Sept. 4 Collected $900 of accounts receivable. 5 Provided services of $10,506, of which $6,800 was collected from patients and the remainder was on account. 7 Paid $1,600 on accounts payable. 12 Purchased additional equipment for $2,575, paying $903 cash and leaving the balance on account. 15 Paid salaries, $3,700; rent for September, $2,093; and advertising expenses, $204. 18 Collected the balance of the accounts receivable from August 31. 20 Withdrew $700 for personal use. 26 Borrowed $2,900 from the Bank of Montreal on a note payable. 28 Signed a contract to provide medical services, not covered under the government health plan, to employees of CRS Corp. in October for $4,700. CRS Corp. will pay the amount owing after the medical services have been provided. 29 Received the telephone bill for September, $335. 30 Billed the government $10,600 for services provided to patients in September. Beginning with the August 31 balances, prepare a tabular analysis of the effects of the September transactions on the accounting equation. (If a transaction causes a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See llustration 1-13 for example.) 01:29 d0 ENG 28-01-2020

Answer 1

		Assets							=	Liabilities			+	Equity
	Ref.	Cash	+	Accounts receivable	+	Supplies	+	Equipment	=	Accounts payable	+	Note payable		I.Sheridan capital
	Beg bal.	2900		2300		497		6800		4780		2900		4817
	Sept 4.	900		-900
	Sept 5.	6800		3706										10506
				(10506-6800)
	Sept 7.	-1600								-1600
	Sept 12.	-903						2575		1672
										(2575-903)
	Sept 15.	-5997												-5997
	(3700+2093+204)
	Sept 18.	1400		-1400
	(2300-900)
	Sept 20.	-700												-700
	Sept 26.	2900										2900
	Sept 28.	No entry required
	Sept 29.									335				-335
	Sept 30.			10600										10600
	End bal.	5700		14306		497		9375		5187		5800		18891