accounting 5100

The Dog & Cat Hospital, owned by Kate Miller, a veterinarian, opened for business on December 1 of the current year. Using the horizontal worksheet below, record the following December transactions. Total the columns to show that assets equal liabilities plus stockholdere equity as of December 31. 1. Miller opened a checking account on December 1 at Biltmore Bank in the name of the Dog & Cat Hospital and deposited $25,000 Miller received common stock for her investment. 2. Paid rent for December, $1,500. 3. Purchased office equipment on account, $2,900. 4. Purchased supplies for cash, $1,900. 5. Billed clients for services rendered, 57,300. 6. Paid secretary's salary, $1,950. 7. Paid $1,500 on account for the equipment purchased on December 3. 8. Collected $5,800 from clients previously billed for services. 9. The firm paid stockholders $3,000 cash as a dividend. Note: Use negative signs with answers, when appropriate Assets Accounts Receivable Supplies - Liabilities + Office Accounts + Equipment - Payable Common Stock Stockholders' Equity Retained Earnings Revenue Expenses Dividend Cash Transaction 1. Invested cash to begin business 2. Paid rent 3. Purchased office equipment 4. Purchased supplies 5. Billed clients for services rendered 6. Paid secretary's salary. 7. Made partial payment on account. 8. Collected from clients previously billed Assets Accounts Receivable - Supplies Liabilities Accounts Payable Office Equipment Cash Common Stock Stockholders' Equity Retained Earnings Revenue Expenses Dividends Transaction 1. Invested cash to begin business 2. Paid rent 3. Purchased office equipment 4. Purchased supplies 5. Billed clients for services rendered. 6. Paid secretary's salary 7. Made partial payment on account. 8. Collected from dients previously billed 9. Paid stockholders a dividend TOTALS Stockholders Assets