Dr. Patricia Parsons is a dentist. As of January 31, Parsons owned the following property that related to her professional practice

Swan Dental Lab 2,790

REQUIRED

1. From the preceding information, compute the accounting elements and enter them in the accounting equation as shown below.

.:.

2. During February, the assets increase by $4,565, and the liabilities increase by $3,910. Compute the resulting accounting equation.

3. During March, the assets decrease by $2,190, and the liabilities increase by $1,650. Compute the resulting accounting equation.

SOLUTION: