Maria Gonzalez opened a veterinary business in Nashville, Tennessee, on August 1. On August 31, the balance sheet showed Cash $9,000, Accounts Receivable $1,700, Supplies $600, Office Equipment $6,000, Accounts Payable $3,600, and M. Gonzalez, Capital $13,700. During September the following transactions occurred. 1.Paid $2,900 cash on accounts payable. 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 $8,000 of which $2,500 is collected in cash and the balance is due in October. 5.Withdrew $1,000 in cash for personal use. 6.Paid salaries $1,700, rent for September $900, and advertising expenses $300. 7.Incurred utility expenses for month on account $170. 8.Received $10,000 from Capital Money Bank - money borrowed on a note payable. Instructions (a) Complete the table below. (If amount is a decrease, use either a negative sign preceding the number eg -45 or parentheses eg (45). For item 6. list amounts from largest to smallest eg 10, 5, 3, 2. If answer is zero, please enter 0. All blanks must be filled in. Note: Drawings and Expenses always decrease the account.) MARIA GONZALEZ, VETERINARIAN Maria Gonzalez Capital Cash + Accounts Receivable + Supplies + Office Equipment = Notes Payable + Accounts Payable + M. Gonzalez Capital - M. Gonzalez Drawing + Revenues - Expenses Bal. 1. 2. 3. 4. 5. 6. 7. 8. (b) Complete the income statement for September, an owner's equity statement for September, and a balance sheet at September 30. (List amounts from largest to smallest eg 10, 5, 3, 2. If a net loss, record amount using either a negative sign preceding the number eg -45 or parentheses eg (45). For the balance sheet, list assets in order of liquidity and liabilities from largest to smallest eg 10, 5, 3, 2.) Maria Gonzalez, Veterinarian Income Statement For the Month Ended September 30, 2010September 30, 2010 Revenues Accounts receivableRent expenseOffice equipmentSuppliesM.Gonzalez, CapitalNotes payableAdvertising expenseDrawingsAccounts payableCashService revenueSalaries expenseUtilities expense $ Expenses Office equipmentNotes payableSalaries expenseSuppliesAccounts payableService revenueRent expenseAdvertising expenseUtilities expenseDrawingsAccounts receivableCashM.Gonzalez, Capital $ Advertising expenseSuppliesService revenueRent expenseNotes payableUtilities expenseM.Gonzalez, CapitalAccounts payableOffice equipmentSalaries expenseDrawingsCashAccounts receivable Office equipmentAccounts receivableService revenueSuppliesNotes payableAccounts payableDrawingsSalaries expenseUtilities expenseAdvertising expenseM.Gonzalez, CapitalCashRent expense Rent expenseService revenueAccounts receivableSalaries expenseSuppliesOffice equipmentM.Gonzalez, CapitalDrawingsAccounts payableUtilities expenseCashNotes payableAdvertising expense Total expenses Net income (loss) $ Maria Gonzalez, Veterinarian Owner's Equity Statement September 30, 2010For the Month Ended September 30, 2010 Salaries expenseRent expenseNet incomeDrawingsUtilities expenseM.Gonzalez, Capital, September 30SuppliesCashOffice equipmentAccounts receivableNotes payableAccounts payableM.Gonzalez, Capital, September 1Advertising expenseService revenue $ Add: M.Gonzalez, Capital, September 30Utilities expenseCashAccounts receivableOffice equipmentNotes payableAdvertising expenseSalaries expenseSuppliesAccounts payableNet incomeM.Gonzalez, Capital, September 1DrawingsRent expenseService revenue Less: Advertising expenseAccounts receivableService revenueSuppliesRent expenseSalaries expenseDrawingsOffice equipmentM.Gonzalez, Capital, September 30Net incomeM.Gonzalez, Capital, September 1CashNotes payableAccounts payableUtilities expense Notes payableDrawingsAccounts receivableNet incomeUtilities expenseService revenueAccounts payableM.Gonzalez, Capital, September 1Rent expenseSalaries expenseOffice equipmentAdvertising expenseM.Gonzalez, Capital, September 30CashSupplies $ Maria Gonzalez, Veterinarian Balance Sheet For the Month Ended September 30, 2010September 30, 2010 Assets Service revenueAccounts receivableAccounts payableSuppliesM.Gonzalez, CapitalAdvertising expenseUtilities expenseDrawingsCashSalaries expenseOffice equipmentNotes payableRent expense $ Salaries expenseNotes payableRent expenseAccounts payableM.Gonzalez, CapitalService revenueAccounts receivableUtilities expenseAdvertising expenseDrawingsCashSuppliesOffice equipment Salaries expenseDrawingsCashM.Gonzalez, CapitalSuppliesAccounts payableService revenueUtilities expenseRent expenseOffice equipmentAdvertising expenseNotes payableAccounts receivable Service revenueSalaries expenseAdvertising expenseCashRent expenseDrawingsUtilities expenseM.Gonzalez, CapitalOffice equipmentSuppliesAccounts payableNotes payableAccounts receivable Total assets $ Liabilities and Owner's Equity Liabilities Advertising expenseService revenueSalaries expenseUtilities expenseRent expenseDrawingsM.Gonzalez, CapitalNotes payableAccounts payableSuppliesOffice equipmentAccounts receivableCash $ Service revenueSuppliesNotes payableAccounts receivableAdvertising expenseM.Gonzalez, CapitalCashRent expenseSalaries expenseOffice equipmentUtilities expenseDrawingsAccounts payable Total Liabilities Owner's equity Advertising expenseSuppliesCashService revenueAccounts receivableSalaries expenseNotes payableRent expenseAccounts payableDrawingsOffice equipmentUtilities expenseM.Gonzalez, Capital Total liabilities and owner's equity $