Transactions made by Morlan and Co., a law firm, for the month of March are shown on the next page. Prepare a tabular analysis which shows the effects of these transactions on the accounting equation, similar to that shown in Illustration 1-9 (page 21).

1. The company performed $23,000 of services for customers, on credit.
2. The company received $23,000 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. The company paid a dividend of $5,000 in cash tostockholders.

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Assets Liabilities + Stockholders' Equity Trans- action Accounts Retained Cash+ Receivable Supplies + Equipment- Accounts Common + Stock Pavable (1) +15,000 + $15,000 Issued Stock (2) 7,000 (4) +1,200 (6) 1,500 +$2,000 +$7,000 +$1,600 + $1,600 +$1,200 Service Revenue Adver. Expense Service Revenue Rent Expense Sal./Wages Exp. Utilities Expense +250 -$250 +3,500 (7) 1,700 -600 -900 -200 -250 +600 (10)-1,300 -250 -600 -$1,300 Dividends $ 8,050+ $1,400 + $1,600+ $7,000 $1,600 + $15,000 + $4,700-$1,950- $1,300 $18,050 $18,050