Reference no: EM132636280

Rebecca Simpson opened a medical practice. During July, the first month of?operation, the?business, titled Rebecca Simpson?, MD, experienced the following? events:

Problem 1: Analyze the effects of these events on the accounting equation of the medical practice of Rebecca Simpson...

Problem 2: 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; Com.? = Common; Contr.? = Contributed; Div.? = Dividends; Exp.? = Expense; Liab.? = Liabilities; Med.? = Medical; Rev.? = Revenue; Sal.? = Salaries; Sup.? = Supplies.)