Question

h 03-04 Question 3 of 5 -/14 View Policies Current Attempt in Progress On August 31, the balance sheet of Sarasota Veterinary Clinic showed Cash $11,000, Accounts Receivable $3.700, Supplies $600, Equipment $6,000, Accounts Payable $5,600, Common Stock $14,950, and Retained Earnings $750. During September, the following transactions occurred. H Nm & wi o N oo Paid $2,400 cash for accounts payable due. Collected $2.250 of accounts receivable. Purchased additional equipment for $1,550, paying $750 in cash and the balance on account. Performed services worth $8,350, of which $3,500 is collected in cash and the balance is due in October. Declared and paid a $2,400 cash dividend. Paid salaries $1,750, rent for September $1,200, and advertising expense $150. Incurred utilities expense for month on account $330. Received $13,500 from Capital Bank on a 6-month note payable. 6. (a) Prepare a tabular analysis of the September transactions beginning with August 31 balances. Of a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Accounts Receivable Εαι Supplies Cash

this is BUS317 Topic 02 assignment -CH 03-04 on wileyplus

Answer 1

= Expenses Dividends Liabilities Stockholders equity Notes payable + Accounts Payable + Common stock + Retained earnings + Revenues S 5,600 S 14,950 S 750 $ (2,400 = $ 800 Assets S.No Cash + Accounts receivable + Supplies + Equipment Beg. Balance $11,000 S 3,700 $ 600 S 6,000 1 $ (2,400 2 $ 2.250 $ (2,250) 3 $ (750) $ 1,550 4 $ 3,500 $ 4,850 5 $ (2,400 6 $ (3,100) 7 8 $ 13,500 Ending Balance $21,600 S 6,300 S600 S 7,550 $ 8,350 - $ (2,400 $ (3,100) $ (330) $ 330 $ 13,500 13,500 S S 4,330 S 14,950 S 750 $ 8,350 S (3,430) S (2,400)