P1-2A Ramona Castro opened a veterinary business in Nashville, Tennessee, on August 1. On Analyze transactions and August 31, the balance sheet showed Cash $9,000, Accounts Receivable $1,700, Supplies $600, prepare income statement, Equipment $6,000, Accounts Payable $3,600, and Owner's Capital $13,700. During September, owner's equity statement, the following transactions occurred. and balance sheet 1. Paid $2,900 cash on accounts payable. (SO 6, 7, 8) 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. Eamed revenue of $7,800, of which $2,500 is roeived 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). 34 1 Accounting in Action Instructions (a) Total assets $29,350 (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 + Owner's Capital - Owner's Drawings + Revenues - Expenses (b) Net Income $4.580 (b) Prepare an income statement for September, an owner's equity statement for September, Ending capital $17,180 and a balance sheet at September 30