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P1-28 Peter Nimmer opened a veterinary business in Nashville, Tennessee, on August 1, Analyse transactions a 2017. On August 31, the balance sheet showed Cash
P1-28 Peter Nimmer opened a veterinary business in Nashville, Tennessee, on August 1, Analyse transactions a 2017. On August 31, the balance sheet showed Cash $9,000. Accounts Receivable $1,700, Supplies $600, Equipment $6,000, Accounts Payable $3,600, and Owner's Capital $13,700. prepare inconte statem owner's equity stateme During September, the following transactions occurred. balance sheet. 1. Paid $2.900 cash on accounts payable. (LO S, 4, 5) 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 $7,800, of which $2,500 is received in cash and the balance is due in October. 5. Withdrew $1,100 cash for personal use. 6. Paid salaries $1.700, rent for September $900, and advertising expense $450 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 (a Total assets $79.350 balances. The column headings should be as follows: Cash + Accommis Receivable Supplies Equipment - Notes Payable : Accounts Payable Owner's Capital Owner's Drawings + Revenues - Expenses. (b) Prepare an income statement for September an owner's equity statement for September, ) Net income $4,580 and a balance sheet at September 30. Ending capital $17,18 WE
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