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Problem 1-2A (Part Level Submission)

On August 31, the balance sheet of Donahue Veterinary Clinic showed Cash $11,249, Accounts Receivable $4,649, Supplies $600, Equipment $6,000, Accounts Payable $6,549, Common Stock $15,176, and Retained Earnings $773. During September, the following transactions occurred.

1.   Paid $2,933 cash for accounts payable due.
2.   Collected $1,339 of accounts receivable.
3.   Purchased additional equipment for $1,727, paying $792 in cash and the balance on account.
4.   Earned revenue of $7,976, of which $2,117 is collected in cash and the balance is due in October.
5.   Declared and paid a $2,338 cash dividend
6.   Paid salaries $2,401, rent for September $1,011, and advertising expense $191.
7.   Incurred utilities expense for month on account $257.
8.   Received $11,046 from Capital Bank on a 6-month note payable.
 
 
Collapse question part

(a)

Partially correct answer. Your answer is partially correct.  Try again.
   
Prepare a tabular analysis of the September transactions beginning with August 31 balances. (If a transaction causes a decrease in Assets, Liabilities or Stockholders’ Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example.)

DONAHUE VETERINARY CLINIC
Assets   Liabilities   Stockholders’ Equity  
   
Cash
 + 
Accounts
Receivable
 + 
Supplies
 + 
Equipment
 = 
Notes
Payable
 + 
Accounts
Payable
 + 
Common
Stock
 + 
Retained
Earnings
 + 
Revenues
 – 
Expenses
 – 
Dividends
 
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