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.

(a)
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
Bal.
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