Complete the Following Schedule for Red Eye Company

question 111

Essay

Complete the following schedule for Red Eye Company. $$\begin{array} { | l | l | l | l | } \hline \text { Transaction } & \text { Assets } & \text { Liabilities } & \begin{array} { l } \text { Stockholders' } \\\text { Equity }\end{array} \\\hline \text { Beginning balances } & \$ 200,000 & \$ 80,000 & \$ 120,000 \\\hline \begin{array} { l } \text { Borrowed } \$ 20,000 \text { cash by signing } \\\text { a note payable with a bank. }\end{array} & & & \\\hline \begin{array} { l } \text { Collected accounts receivable for } \\\text { cash, } \$ 7,000 .\end{array} & & & \\\hline \begin{array} { l } \text { Paid accounts payable, } \$ 8,000 \\\text { cash. }\end{array} & & & \\\hline \begin{array} { l } \text { Purchased office supplies on } \\\text { credit, } \$ 2,000 .\end{array} & & & \\\hline \begin{array} { l } \text { Sold common stock, at par value, } \\\text { to new investors in exchange for } \\\text { \$20,000 cash. }\end{array} & & & \\\hline \begin{array} { l } \text { Paid income taxes payable of } \\\text { \$12,000. }\end{array} & & & \\\hline \text { Ending balances } & & & \\\hline\end{array}$$

---

Definitions:

Small Lesions

Minor or small areas of damaged tissue or abnormality in the body.

Barium Swallow

A radiologic procedure that involves oral administration of a barium sulfate drink to help diagnose and evaluate obstructions, ulcers, polyps, diverticuloses, tumors, or motility problems of the esophagus, stomach, duodenum, and small intestine; also called an upper GI (gastrointestinal) series.

Upper GI Series

A series of X-rays of the esophagus, stomach, and small intestine that uses a contrast material to diagnose problems in the upper gastrointestinal tract.

Oral Administration

The process of taking medication or substances through the mouth for absorption in the digestive system.