On August 31, the balance sheet of Ayayai Veterinary Clinic showed Cash $7,200, Accounts Receivable $1,360, Supplies $480, Equipment $4,800, Accounts Payable $2,880, Common Stock
On August 31, the balance sheet of Ayayai Veterinary Clinic showed Cash $7,200, Accounts Receivable $1,360, Supplies $480, Equipment $4,800, Accounts Payable $2,880, Common Stock $10,400, and Retained Earnings $560. During September, the following transactions occurred
1. | Paid $2,320 cash for accounts payable due. | |
2. | Collected $1,040 of accounts receivable. | |
3. | Purchased additional equipment for $1,680, paying $640 in cash and the balance on account. | |
4. | Performed services worth $5,840, of which $2,000 is collected in cash and the balance is due in October. | |
5. | Paid a $320 cash dividend. | |
6. | Paid salaries $1,360, rent for September $720, and advertising expense $160. | |
7. | Incurred utilities expense for month on account $136. | |
8. | Received $8,000 from Capital Bank on a 6-month note payable |
No. | Assets | = | Liabilities | + | Stockholders | Equity | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash | + | Accounts Receivable | + | Supplies | + | Equipment | = | Accounts Payable | + | Notes Payable | + | Common Stock | + | Retained Earnings | - | Dividends | + | Revenue | - | Expenses | |
Beg.Bal. | + | + | + | = | + | + | + | - | + | - | |||||||||||
1. | + | + | + | = | + | + | + | - | + | - | |||||||||||
2. | + | + | + | = | + | + | + | - | + | - | |||||||||||
3. | + | + | + | = | + | + | + | - | + | - | |||||||||||
4. | + | + | + | = | + | + | + | - | + | - | |||||||||||
5. | + | + | + | = | + | + | + | - | + | - | |||||||||||
6. | + | + | + | = | + | + | + | - | + | - | |||||||||||
7. | + | + | + | = | + | + | + | - | + | - | |||||||||||
8. | + | + | + | = | + | + | + | - | + | - | |||||||||||
Bal. | + | + | + | = | + | + | + | - | + | - | |||||||||||
AYAYAI VETERINARY CLINIC Income Statement choose the accounting period For the Year Ended September 30, 2022September 30, 2022For the Month Ended September 30, 2022 | ||
---|---|---|
select an opening name for section one DividendsExpensesNet Income / (Loss)Retained Earnings, September 1Retained Earnings, September 30RevenuesTotal ExpensesTotal RevenuesInvestments | ||
enter an income statement item | $enter a dollar amount | |
select an opening name for section two DividendsExpensesNet Income / (Loss)Retained Earnings, September 1Retained Earnings, September 30RevenuesTotal ExpensesTotal RevenuesInvestments | ||
enter an income statement item | $enter a dollar amount | |
enter an income statement item | enter a dollar amount | |
enter an income statement item | enter a dollar amount | |
enter an income statement item | enter a dollar amount | |
select a closing name for section two DividendsExpensesNet Income / (Loss)Retained Earnings, September 1Retained Earnings, September 30RevenuesTotal ExpensesTotal RevenuesInvestments | enter a total amount for section two | |
select a closing name for this statement DividendsExpensesNet Income / (Loss)Retained Earnings, September 1Retained Earnings, September 30RevenuesTotal ExpensesTotal RevenuesInvestments | $enter a total net income or loss amount |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started