Reference no: EM131705255
Question - During October 2016, Paws Veterinary Clinic completed the following transactions:
Oct. 1 Paws received $30,000 cash and issued common shares to shareholders
4 Purchased supplies, $1,000, and equipment, $2,600 on account
5 Performed checkup services, and received cash, $1,500
7 Paid cash to acquire land for an office site, $22,000
11 Performed a surgery on a sick cat, and billed the customer $500
16 Paid for the equipment, purchased Oct 4 on account
17 Paid the telephone bill, $95
18 Received partial payment from client on account, $250
22 Paid the water and electricity bills, $400
29 Received $2,000 cash for conducting a workshop on "Healthy Cat Living"
31 Paid employee salary, $1,300
31 Declared and paid dividends of $1,500
Record each transaction in the journal. Key each transaction by date. Explanations are not required.
Prepare the trial balance of Paws at October 31, 2016.