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P1-2A Donahue Veterinary Clinic

Price: $2.50


P1-2A On August 31, the balance sheet of Donahue Veterinary Clinic showed Cash $9,000,
Accounts Receivable $1,700, Supplies $600, Equipment $6,000, Accounts Payable $3,600,
Common Stock $13,000, and Retained Earnings $700. During September, the following
transactions occurred.



Instructions

(a) Prepare a tabular analysis of the September transactions beginning with August 31
balances. The column headings should be as follows: Cash 1 Accounts Receivable 1
Supplies 1 Equipment 5 Notes Payable 1 Accounts Payable 1 Common Stock 1
Retained Earnings 1 Revenues 2 Expenses 2 Dividends.
(b) Prepare an income statement for September, a retained earnings statement for
September, and a balance sheet at September 30.

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