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P1.2 (LO4. 5), AP On August 31, the balance sheet of La Brava Veterinary Clinic showed Cash $9,000, Accounts Receivable $1,700, Supplies $600, Equipment
P1.2 (LO4. 5), AP On August 31, the balance sheet of La Brava Veterinary Clinic showed Cash $9,000, Accounts Receivable $1,700, Supplies $600, Equipment $6,000 Accounts Payable $3,600, Common Stock $13,000, and Retained Earnings $700. During September, the following transactions occurred. 1. Paid $2,900 cash for accounts payable due. 2. Collected $1,300 of accounts receivable. 3. Purchased additional equipment for $2,100, paying $800 in cash and the balance on account. 4. Recognized revenue of $7,300, of which $2,500 is collected in cash and the balance is due in October. 5. Declared and paid a $400 cash dividend. 6. Paid salaries $1,700, rent for September $900, and advertising expense $200. 7. Incurred utilities expense for month on account $170. 8. Received $10,000 from Capital Bank on a 6-month 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 + Equipment Notes Payable Accounts Payable Common Stock Retained Earnings Revenues - Expenses - Dividends. a. Ending cash $15,900 b. Prepare an income statement for September, a retained earnings statement for September, and a balance sheet at September 30, 2022. b. Net income $4.330 Total assets $29,800
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