The Dog & Cat Hospital, owned by Kate Miller, a veterinarian, opened for business on December 1 of the current year. Using the horizontal worksheet below, record the following December transactions. Total the columns to show that assets equal liabilities plus stockholders equity as of December 31. 1. Miller opened a checking account on December 1 at Biltmore Bank in the name of The Dog & Cat Hospital and deposited $12,500 Miller received common stock for her investment. 2. Paid rent for December, $750. 3. Purchased office equipment on account, $1,450. 4. Purchased supplies for cash, $950. 5. Billed clients for services rendered, $3,650. 6. Paid secretarys salary, $975. 7. Paid $750 on account for the equipment purchased on December 3. 8. Collected $2,900 from clients previously billed for services. 9. The firm paid stockholders $1,500 cash as a dividend. Note: Use negative signs with answers, when appropriate.

	Assets							=	Liabilities	+	Stockholders' Equity
			Accounts				Office		Accounts		Common		Retained Earnings
Transaction	Cash	+	Receivable	+	Supplies	+	Equipment	=	Payable	+	Stock	+	Revenue	-	Expenses	-	Dividends
1. Invested cash to begin business.	Answer		Answer		Answer		Answer		Answer		Answer		Answer		Answer		Answer
2. Paid rent.	Answer		Answer		Answer		Answer		Answer		Answer		Answer		Answer		Answer
3. Purchased office equipment.	Answer		Answer		Answer		Answer		Answer		Answer		Answer		Answer		Answer
4. Purchased supplies.	Answer		Answer		Answer		Answer		Answer		Answer		Answer		Answer		Answer
5. Billed clients for services rendered.	Answer		Answer		Answer		Answer		Answer		Answer		Answer		Answer		Answer
6. Paid secretary's salary.	Answer		Answer		Answer		Answer		Answer		Answer		Answer		Answer		Answer
7. Made partial payment on account.	Answer		Answer		Answer		Answer		Answer		Answer		Answer		Answer		Answer
8. Collected from clients previously billed.	Answer		Answer		Answer		Answer		Answer		Answer		Answer		Answer		Answer
9. Paid stockholders a dividend.	Answer		Answer		Answer		Answer		Answer		Answer		Answer		Answer		Answer
TOTALS	Answer		Answer		Answer		Answer		Answer		Answer		Answer		Answer		Answer

				Stockholders'
Assets	=	Liabilities	+	Equity
Answer		Answer		Answer

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