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Transactions made by Skysong Co. for the month of March are shown below. 1. The company performed $18,400 of services for customers on account. 2.
Transactions made by Skysong Co. for the month of March are shown below. 1. The company performed $18,400 of services for customers on account. 2. The company received $18,400 in cash from customers who had been billed for services [in transaction (1)]. 3. The company received a bill for $1,656 of advertising but will not pay it until a later date. 4. Skysong Co. paid a cash dividend of $2,760. Prepare a tabular analysis that shows the effects of these transactions on the expanded accounting equation. (If a transaction results in 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.)
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