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Paige stainbeck opened a medical practice. During July?, the first month of? operation, the? business, titled Paige Steinbeck?, ?MD, experienced the following? events. july. 6 recieved a contribution of $ 65,000 from stenbeck and opened a bank account in the name of P. steinbeck, MD. the corporation issued commom stock to stenbeck.july. 9. paid 50, 000 cash for landjuly. 12. purchase medical supplies for 2,000 on accountjuly. 15. officially opened for businessjuly 20. paid cash expenses: emplyees' salarie, 1,900; office rent , 700, utilities, 350.july. 31. earned srvice revenue for the month, 10, 000, recieveing cash.july. 31. paid 1,350 on account.
Problem 1: Analyze the effects of these events on the accounting equation of the medical practice of Paige Steinbeck?, MD.
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