repare an unadjusted trial balance dated May 31 2013.
Dr. Dolittle has a veterinary clinic. The following accounts and balances appeared on the books as o Show more Dr. Dolittle has a veterinary clinic. The following accounts and balances appeared on the books as of April 30 2013 (his fiscal year started April 1 2013): Cash $ 25000 Notes Payable $ 13000 Accounts Receivable 9000 Accounts Payable 8000 Office Supplies 3000 Contributed Capital 70000 Land 25000 Retained Earnings 33000 Building 40000 Veterinary Service Revenue 70000 Office Fixtures and Equipment 34000 Advertising Expense 12000 Medical Instruments 20000 Salary Expense 26000 The business transactions for May of 2013 are shown below: MAY 1 Dr. Dolittle invested an additional $500000 in cash in the business in exchange for 6000 more shares of stock. 4 Additional land and a building were purchased for $150000. Of this amount $80000 applied to the land and $70000 to the building. A cash payment of $110000 was made at the time of the purchase and a note payable was issued for the remaining balance. 9 Medical instruments were purchased for $140000 cash. 16 Office fixtures and equipment were purchased for $51500. Dr. Dolittle paid $35500 cash at the time of purchase and agreed to pay the entire remaining balance in 20 days. (Use accounts payable) 21 Office supplies expected to last several months were purchased for $6000 cash. 24 Dr. Dolittle billed clients $10400 for services rendered. Of this amount $8200 was received in cash and the balance was billed on account (due in 30 days). 27 A $900 invoice was received for several radio advertisements aired in May. The entire amount is due to be paid on June 5. (Use accounts payable) 28 Received $7000 from accounts receivable collected. 29 Paid $8500 of accounts payable that had become due. 31 Paid employees $6300 for salaries they earned in May. 1. Prepare an unadjusted trial balance dated May 31 2013. 2. Using figures from the unadjusted trial balance prepared in part 4 prepare an (unadjusted) balance sheet as of May 31 2013. Show less
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