Question
During 2017, Martinez Corp. entered into the following transactions. 1. Borrowed $60,100 by issuing bonds. 2. Paid $9,480 cash dividend to stockholders. 3. Received $18,500
During 2017, Martinez Corp. entered into the following transactions.
1. | Borrowed $60,100 by issuing bonds. | |
2. | Paid $9,480 cash dividend to stockholders. | |
3. | Received $18,500 cash from a previously billed customer for services performed. | |
4. | Purchased supplies on account for $4,600. |
Using the following tabular analysis, show the effect of each transaction on the accounting equation. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' 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 3-3 for example.)
Assets | = | Liabilities | + | Stockholders Equity | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash | + | Accounts Receivable | + | Supplies | = | Accounts Payable | + | Bonds Payable | + | Common Stock | + | Retained Earnings | ||
(1) | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | $enter a dollar amount | |||||||
(2) | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | |||||||
(3) | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | |||||||
(4) | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount | enter a dollar amount |
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