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On August 31, the balance sheet of Bridgeport Veterinary Clinic showed Cash $12,000, Accounts Receivable $4,700, Supplies $ 600, Equipment $6,000, Accounts Payable $6,600, Common
On August 31, the balance sheet of Bridgeport Veterinary Clinic showed Cash $12,000, Accounts Receivable $4,700, Supplies $ 600, Equipment $6,000, Accounts Payable $6,600, Common Stock $15,950, and Retained Earnings $750. During September, the following transactions occurred. 1. 2. 3. 4. 5. 6. 7. 8. Paid $3,300 cash for accounts payable due. Collected $1,350 of accounts receivable. Purchased additional equipment for $1,250, paying $900 in cash and the balance on account. Performed services worth $8,600, of which $2,400 is collected in cash and the balance is due in October. Declared and paid a $650 cash dividend. Paid salaries $2,600, rent for September $1,050, and advertising expense $100. Incurred utilities expense for month on account $220. Received $12,000 from Capital Bank on a 6-month note payable. la 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 (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Stockholders' Equity Assets Accounts + Receivable + BRIDGEPORT VETERINARY CLINIC Liabilities Notes Accounts Common Payable + Payable + Stock Cash Supplies - Equipment = + Retained Earnings + Revenues - Expenses - Dividends
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