Transactions made by Mickelson Co. for the month of March are shown below. Prepare a tabular analysis

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Transactions made by Mickelson Co. for the month of March are shown below.
Prepare a tabular analysis that shows the effects of these transactions on the expanded accounting equation, similar to that shown in Illustration 3-3 (page 99).
1. The company performed $20,000 of services for customers on account.
2. The company received $20,000 in cash from customers who had been billed for services [in transaction (1)].
3. The company received a bill for $1,800 of advertising but will not pay it until a later date.
4. Mickelson Co. paid a cash dividend of $3,000.
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Accounting Tools for Business Decision Making

ISBN: 978-1118096895

6th edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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