Show the impact of business

Learning Objectives 3, 4: Show the impact of business

(Learning Objectives 3, 4: Show the impact of business transactions on the accounting equation; analyze the impact of business transactions on accounts) Refer to Short Exercise 2-3. Which of the transactions of Dora Patel, MD, increased the total assets of the business? For each transaction, identify the asset that was increased.

 

Exercise 2-3

(Learning Objectives 1, 4: Explain what a transaction is; analyze the impact of business transactions on accounts) Dora Patel, MD, opened a medical practice. The business completed the following transactions:

After these transactions, how much cash does the business have to work with? Use a T-account to show your answer.