P1-2A On August 31, 2017, the statement of financial position of Donahue Veterinary atement of inic Ltd. showed Cash 9,000, Accounts Receivable 1,700, Supplies 600, Equipment E6,000, Accounts Payable 3,600, Share Capital-Ordinary 13,000, and Retained Earn ings 700. During September, the following transactions occurred. Problems: Set A 43 .Paid 62,900 cash for accounts payable due. 2. Collected 1,300 of accounts receivable equipment for 2,100, paying E800 in cash and the balance on account. zvenue of c7.300, of which 2,500 is collected in cash and the balance is and paid a E400 cash dividend. salaries 1,700, rent for September 900, and advertising expense 200 Incurred utilities 8. Received 10,000 from Capital Bank on a 6-month note payable Instructions expense for month on account 170 (a) Prepare a tabular analysis of the September transactions begining with Augist 31 (a) Ending cash 615,900 column headings should be as follows: Cash + Accounts Supplies Equipment- Notes Payable +Accounts Payable + Share Capital (b) Prepare an income September, and a statemeptember, a retained earnings statement for (b) Net income 4330 a statement Total assets 29,800 of financial position at September 30, 2017 P1-3A On May 1, 2017, Park Flying School Lid., a company was started with an investment of W45,000 cash in the business. that provides flying lessons, Prepare income statement and liabilities of the company on May 31, 2017, and the revenues and expenses month of May (all amounts in thousands). Following are the assets for the retained earnings statement, and statement offinancial position LO 8) W28,000 1,000 Cash Accounts Receivable Equipment Service Ka Advertising Expense Accounts Payable w 4,500 Notes Payable 7,420 Rent Expense 4,000 Maintenance and 6,800 400 2,500 400 Repairs Expense 500 Gasoline Expense 1,400 Utilities Expense No additional investments were made in May, but the company paid dividends of W 480,000 during the month. Instructions (a) Prepare an income statement and a retained earnings statement for the month of May (a) Net income W2,000 (b) Prepare an income statement and a retained earnings statement for May assuming the (b) Net income W1,400 Total assets W75,920 and a statement of financial position at May 31. (Show numbers in thousands.) following data are not included above:(1) W 900,000 worth of services were performed and billed but not collected at May 31, and (2) W1,500,000 of gasoline expense was incurred but not paid. ion at June 30, 2017 P1-5A Financial statement information about four different companies is as follows Stills Nash Company Company Company Comnans HK$ 900,000 HKS1,100,000g) pany L0 7,8) January 1, 2017 650,000 HKS 750,000 Equity Assets Equity Additional investment Total revenues 500,000 500.00040.0001.0000 December 31, 2017 1,370,000 2,000,000 550,000 400,000 750,000 300,000 1,400,000 Equity changes in year 150,000100,000 100,000 3,500,000 3,300,000 0) 3,420,000 150,000 140,000100,000 5,000,000 4,200,000 3,850,000 Total expenses 1) Instructions (a) Determine the missing amounts. (Hint: For example, to solve for (a), Assets-Liabil (b) Prepare the retained earnings statement for Stills Company Assume beginning (c) Write a memorandum explaining the sequence for preparing financial state. ties Equity HK$250,000.) retained earnings was HK$200,000. ments and the interrelationship of the retained earnings statement to the income statement and statement of financial position