Accounting Homework

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Print by: Alfear Holmes ACC557065VA016-1146-001: Financial Accounting / Week 1 Homework: Chapter 01

*Problem 1-2A (Part Level Submission) On August 31, the balance sheet of Donahue Veterinary Clinic showed Cash $9,000, Accounts Receivable $1,700, Supplies $600, Equipment $6,000, Accounts Payable $3,600, Common Stock $13,000, and Retained Earnings $700. During September, the following transactions occurred.

1. Paid $2,900 cash for accounts payable due. 2. Collected $1,300 of accounts receivable. 3. Purchased additional office equipment for $2,100, paying $800 in cash and the balance on account. 4. Earned revenue of $7,300, of which $2,500 is collected in cash and the balance is due in October. 5. Declared and paid a $400 cash dividend 6. Paid salaries $1,700, rent for September $900, and advertising expense $200. 7. Incurred utilities expense for month on account $170. 8. Received $10,000 from Capital Bank on a 6-month note payable.

*(a) Prepare a tabular analysis of the September transactions beginning with August 31 balances. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity item that was reduced. See Illustration 1-8 for example.)

DONAHUE VETERINARY CLINIC Assets Liabilities

Cash + Accounts

Receivable + Supplies + Office

Equipment = Notes

Payable + Accounts Payable +

C

Bal.$ $ $ $ $ $ $

1.

2.

3.

4.

5.

6.

7.

8.

$ $ $ $ = $ $ $

*(b1) The parts of this question must be completed in order. This part will be available when you complete the part above.

*(b2) The parts of this question must be completed in order. This part will be available when you complete the part above.

*(b3) The parts of this question must be completed in order. This part will be available when you complete the part above.

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Page 1 of 1Problem 1-2A (Part Level Submission)

7/3/2014http://edugen.wiley.com/edugen/shared/assignment/test/qprint.uni