Posted: September 8th, 2023

Homework 6 P1-2A – GM

Homework
6
P1-2A On August 31, the statement of financial
position of Nashville Veterinary Clinic showed Cash $9,000 Accounts
Receivable$1,700, Supplies$600, Office Equipment$6,000,Accounts payable$3,600,
Share capital $13,000, and Retained Earnings$700. During September the
following transactionsoccurred.1.
Paid $2,900 cash for accounts
payable due.
2.
Collected $1,300 of accounts
receivable.
3.
Purchasedadditional office
equipment for $2,100, paying $800 in cash and the balance on account.
4.
Earned revenue of $8,000, of
which $2,500 is paid in cash and the balance is due in October.
5.
Declared and paid a $1,000 cash
dividend.
6.
Paid salaries$1,700 rent for
September $900 and advertising expense $300.
7.
Incurred utilities expense for
month on account $170.
8.
Received $10,000 form Capital
Bank on a o-month note payable.Instructions
(a) Prepare a tabular analysis of the September transactions beginning with
August balances. The column headings should be as follows :Cash + Accounts
Receivable + Supplies + Office Equipment = Notes Payable +Accounts Payable +
Share Capital-Ordinary +Retained Earnings + Revenues – Expenses – Dividends.
(b) Prepare an income statement
for September, a retained earnings statement for September, and a statement of
financial position at September 30.

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