Question 5 of 5 View Policies Current Attempt in Progress On August 31,...

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Accounting

Question 5 of 5
View Policies
Current Attempt in Progress
On August 31, the balance sheet of Carla Vista Veterinary Clinic showed Cash $10,000, Accounts Receivable $2,700, Supplies $600, Equipment $6,000, Accounts Payable $4,600, Common Stock $13,950, and Retained Earnings $750. During September, the following transactions occurred.
Paid $3,300 cash for accounts payable due.
Collected $2,000 of accounts receivable.
Purchased additional equipment for $1,150, paying $750 in cash and the balance on account.
Recognized revenue of $8,100, of which $2,250 is collected in cash and the balance is due in
4. October.
5. Declared and paid a $450 cash dividend.
6. a. Paid salaries $2,050.
b. Rent for September $1,050.
c. Advertising expense $100.
7. Incurred utilities expense for month on account $250.
8. Received $14,000 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, place a negative sign
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