During October All Pets Veterinary Clinic Ltd completed

the following #6573

During October, All Pets Veterinary Clinic Ltd. completed the following transactions:Oct. 1 Dr.
Squires deposited $8,000 cash in the business bank account. The business issued common
shares to her.5 Paid monthly rent, $1,000.9 Paid $5,000 cash, and signed a $25,000 note
payable to purchase land for an office site.10 Purchased supplies on account, $1,200.19 Paid
$600 on account.22 Borrowed $10,000 from the bank for business use. Dr. Squires signed a
note payable to the bank in the name of the business.31 Revenues earned during the month
included $7,000 cash and $5,000 on account.31 Paid employees' salaries ($2,000), advertising
expense ($1,500), and utilities ($1,100).31 Declared and paid a cash dividend of $3,000.The
clinic uses the following accounts: Cash, Accounts Receivable, Supplies, Land, Accounts
Payable, Notes Payable, Share Capital, Dividends, Service Revenue, Salary Expense, Rent
Expense, Utilities Expense, and Advertising Expense.Requirements1. Journalize each
transaction of All Pets Veterinary Clinic Ltd. Explanations are not required.2. Prepare T-
accounts for Cash, Accounts Payable, and Notes Payable. Post to these three accounts.3. After
these transactions, how much cash does the business have? How much in total does it
owe?View Solution:
During October All Pets Veterinary Clinic Ltd completed the following

ANSWER
http://paperinstant.com/downloads/during-october-all-pets-veterinary-clinic-ltd-completed-the-
following/

1/1
Powered by TCPDF (www.tcpdf.org)