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On August 31, the balance sheet of Riverbed Veterinary Clinic showed Cash $9,900, Accounts Receivable $1,870, Supplies $660, Equipment $6,600, Accounts Payable $3,960, Common Stock
On August 31, the balance sheet of Riverbed Veterinary Clinic showed Cash $9,900, Accounts Receivable $1,870, Supplies $660, Equipment $6,600, Accounts Payable $3,960, Common Stock $14,300, and Retained Earnings $770. During September, the following transactions occurred. 1. Paid $3,190 cash for accounts payable due. 2. Collected $1,430 of accounts receivable. 3. Purchased additional equipment for $2,310, paying $880 in cash and the balance on account. 4. Performed services worth $8,030, of which $2,750 is collected in cash and the balance is due in October. 5. Paid a $440 cash dividend. 6. Paid salaries $1,870, rent for September $990, and advertising expense $220. 7. Incurred utilities expense for month on account $181. 8. Received $11,000 from Capital Bank on a 6-month note payable. (a) Prepare a tabular analysis of the September transactions beginning with August 31 balances. Include margin explanations for any changes in revenues or expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign Prepare a tabular analysis of the September transactions beginning with August 31 balances. Include margin explanations for any changes in revenues or expenses. (If a transaction results in a decrease in Assets, Llabilities 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. Post entries in the order presented in the question.) Question 4 of 6 /181= Bal. \$ 1. 2. 3. 4. 5. 6. 7. 8. (8) $ $ $ . . . 5. 6. . 8. $ $ Question 4 of 6 /18 = Liabilities B Question 4 of 6 /181= Question 4 of 6 /18 ; $ $ $ $ $ Service Revenue Dividends Utilities Expense Advertising Expense Rent Expense Salaries and Wages Expense Prepare an income statement for September. Prepare a retained earnings statement for September. (List items that increase retained earnings first.)
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