Tyro Health Care, Inc., is owned and operated by Dr. Ricky Owens, the sole stockholder. During March, Tyro Health Care entered into the following transactions: Mar. 2 Received $10,800 from Mutton Company as rent for the use of a vacant office in Tyro Health Care’s building. Mutton prepays the rent six months in advance. 2 Paid $4,200 for an insurance premium on a one-year, general business policy. 3 Purchased supplies of $1,250 on account. 6 Collected $6,600 for services provided to customers on account. 9 Paid creditors $2,750 on account. 18 Invested an additional $15,000 in the business in exchange for capital stock. 23 Billed patients $17,800 for services provided on account. 25 Received $5,800 for services provided to customers who paid cash. 30 Paid expenses as follows: wages, $12,300; utilities, $4,500; rent on medical equipment, $3,000; interest, $150; and miscellaneous, $400. 31 Paid dividends of $1,000 to stockholders (Dr. Owens). Instructions Analyze and record the March transactions for Tyro Health Care, Inc., using the integrated financial statement framework. Record each transaction by date and show the balance for each account after each transaction. The March 1, 2007, balances for the balance sheet are shownbelow.
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