The general ledger of Blossom Care Corp., a veterinary company, showed these balances on August 31,...

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The general ledger of Blossom Care Corp., a veterinary company, showed these balances on August 31, 2024: Cash $9,900; Accounts Receivable $3,960; Supplies $770; Equipment $14,300; Accounts Payable $7,040; Common Shares $5,500; and Retained Earnings $16,390. During September, the following transactions occurred: Sept. 4 Paid the accounts payable owing at August 31. 4 Paid $2,640 rent for September. 5 Collected $3,190 of accounts receivable due from customers. 6 Hired a part-time office assistant at $70 per day to start work the following week, on Monday, September 9. 7 Received $5,100 cash for issuing common shares to new investors. 10 Purchased additional equipment for $4,510, paying $1,540 in cash and the balance on account. 12 Billed customers $1,100 for veterinary services provided. (Hint: Use the account Service Revenue to record veterinary services.) Received $5,500 from Canadian Western Bank; the money was borrowed on a bank loan payable due in nine months. Sent a statement reminding a customer that money was still owed from August. 14 Paid $660 for advertising expenses. 17 18 20 22 Earned veterinary service revenue of $9,900, of which $6,600 was received in cash. The balance is due in October. Paid part-time office assistant $1,050 for working two weeks in September. 20 26 Received a bill for utility expenses in the amount of $390; it is not due until October 15. 27 Declared and paid $1,100 of dividends to shareholders. 28 Paid income tax for the month, $770. Beginning with the August 31 balances, prepare an equation analysis of the effects of the opening balances and above transactions on the accounting equation. (If a transaction results in a decrease in Assets, Liabilities or Shareholders' 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 3.18 for example.) K25 A = x fx B CD 0 H M N R 5 T U V Reteained Earnings Transaction Cash + Account Receivable + Supplies + Equipment Account Payable + Common Shares + Opening Retain Earning + Reveneu - Expenses - Dividend Dedared T 04-5 i 05-Sep 05-Sep 07-Sep -Sep 09-Sep a 10-5 1 11-Sep 2 12-Sep 3 13-5p 4 14-5 5 15-5ep 6 16-5p 7 17-Sep 8 18-Sep " 19-Sep 20-Sep 1 21-Sep 2 22-Sep 3 23-Sep 4 24-Sep 5 25-Sep G 26-5 7 27-Sep 8 28-Sep Sep 30. The general ledger of Blossom Care Corp., a veterinary company, showed these balances on August 31, 2024: Cash $9,900; Accounts Receivable $3,960; Supplies $770; Equipment $14,300; Accounts Payable $7,040; Common Shares $5,500; and Retained Earnings $16,390. During September, the following transactions occurred: Sept. 4 Paid the accounts payable owing at August 31. 4 Paid $2,640 rent for September. 5 Collected $3,190 of accounts receivable due from customers. 6 Hired a part-time office assistant at $70 per day to start work the following week, on Monday, September 9. 7 Received $5,100 cash for issuing common shares to new investors. 10 Purchased additional equipment for $4,510, paying $1,540 in cash and the balance on account. 12 Billed customers $1,100 for veterinary services provided. (Hint: Use the account Service Revenue to record veterinary services.) Received $5,500 from Canadian Western Bank; the money was borrowed on a bank loan payable due in nine months. Sent a statement reminding a customer that money was still owed from August. 14 Paid $660 for advertising expenses. 17 18 20 22 Earned veterinary service revenue of $9,900, of which $6,600 was received in cash. The balance is due in October. Paid part-time office assistant $1,050 for working two weeks in September. 20 26 Received a bill for utility expenses in the amount of $390; it is not due until October 15. 27 Declared and paid $1,100 of dividends to shareholders. 28 Paid income tax for the month, $770. Beginning with the August 31 balances, prepare an equation analysis of the effects of the opening balances and above transactions on the accounting equation. (If a transaction results in a decrease in Assets, Liabilities or Shareholders' 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 3.18 for example.) K25 A = x fx B CD 0 H M N R 5 T U V Reteained Earnings Transaction Cash + Account Receivable + Supplies + Equipment Account Payable + Common Shares + Opening Retain Earning + Reveneu - Expenses - Dividend Dedared T 04-5 i 05-Sep 05-Sep 07-Sep -Sep 09-Sep a 10-5 1 11-Sep 2 12-Sep 3 13-5p 4 14-5 5 15-5ep 6 16-5p 7 17-Sep 8 18-Sep " 19-Sep 20-Sep 1 21-Sep 2 22-Sep 3 23-Sep 4 24-Sep 5 25-Sep G 26-5 7 27-Sep 8 28-Sep Sep 30.

Answer rating: 100% (QA)

The equation analysis of the effects of the opening balances and the above transactions on the accounting equation is as follows Assets Liabilities Shareholders Equity Beginning Balances Cash K25 Acco... View the full answer