P 1-2A 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 paid in cash and the balance is due in October. 5. Withdrew $1,000 cash for personal use. 6. Paid salaries $1,700, rent for September $900, and advertising expense $300. 7. Incurred utilities expense for month on account $170. 8. Received $10,000 from Capital Bank-money borrowed on a note payable. Instructions (a) Prepare a tabular analysis of the September transactions beginning with August 31 balances. The column headings should be as follows: Cash + Accounts Receivable + Supplies + Office Equipment = Notes Payable + Accounts Payable + M. Gonzalez, Capital - M. Gonzalez, Drawings + Revenues - Expenses. (b) Prepare an income statement for September, an owner's equity statement for September, and a balance sheet at September 30. P 2-2A Jane Kent is a licensed CPA. During the first month of operations of her business, the following events and transactions occurred. May 1 Kent invested $25,000 cash. 2 Hired a secretary-receptionist at a salary of $2,000 per month. 3 Purchased $2,500 of supplies on account from Read Supply Company. 7 Paid office rent of $900 cash for the month. 11 Completed a tax assignment and billed client $2,100 for services provided. 12 Received $3,500 advance on a management consulting engagement. 17 Received cash of $1,200 for services completed for H. Arnold Co. 31 Paid secretary-receptionist $2,000 salary for the month. 31 Paid 40% of balance due Read Supply Company. Jane uses the following chart of accounts: No. 101 Cash, No. 112 Accounts Receivable, No. 126 Supplies, No. 201 Accounts Payable, No. 205 Unearned Revenue, No. 301 Jane Kent, Capital; No. 400 Service Revenue, No. 726 Salaries Expense, and No. 729 Rent Expense. Instructions (a) Journalize the transactions. (b) Post to the ledger accounts. (c) Prepare a trial balance on May 31, 2010. E 2-12 Selected transactions for Tina Cordero Company during its first month in business are presented below. Sept. 1 Invested $10,000 cash in the business. 5 Purchased equipment for $12,000 paying $5,000 in cash and the balance on account. 25 Paid $3,000 cash on balance owed for equipment. 30 Withdrew $500 cash for personal use. Cordero's chart of accounts shows: No. 101 Cash, No. 157 Equipment, No. 201 Accounts Payable, No. 301 Tina Cordero, Capital; No. 306 Tina Cordero, Drawing. Instructions (a) Journalize the transactions on page J1 of the journal. (Omit explanations.) (b) Post the transactions using the standard account form