Transactions madė by Marigold Corp., a law firm, for the month of March are shown below.The company performed $21,000 of services for customers, on credit.The company received $21,000 in cash from customers who had been billed for services (in transaction 1).1.2.3.The company received a bill for $3,600 of advertising, but will not pay it until a later date.4.The company paid a dividend of $7,000 in cash to stockholders.Prepare a tabular analysis which shows the effects of these transactions on the accounting equation. (If an amount reduces the account balance then enter witha negative sign preceding the number e.g. -15,000 or parenthesis (15,000).)AssetsLiabilitiesStockholders' EquityRetained EarningsCashAccounts Receivable= Accounts Payable + Common Stock +RevenuesExpensesDividends(1) $%24$1%24(2)2$2$(3)2$%2424$2$$2$(4)$LINK TO TEXT

Accounting Equation is statement showing effects of financial transaction on basic equation on…

Transactions made by Marigold Corp., a law firm, for the month of March are shown below. The company performed $21,000 of services for customers, on credit. The company received $21,000 in cash from customers who had been billed for services (in transaction 1). 1. 2. The company received a bill for $3,600 of advertising, but will not pay it until a later date. The company paid a dividend of $7,000 in cash to stockholders. 3. 4. Prepare a tabular analysis which shows the effects of these transactions on the accounting equation. (If an amount reduces the account balance th a negative sign preceding the number e.g. -15,000 or parenthesis (15,000).) Assets Liabilities Stockholders' Equity Retained Earnings Cash + Accounts Receivable Accounts Payable + Common Stock + Revenues Expenses Dividends (1) %24 24 $1 %24 (2) $. 24 $4 (3) $ %24 24 (4) s 2$

Transactions made by Marigold Corp., a law firm, for the month of March are shown below. The company performed $21,000 of services for customers, on credit. The company received $21,000 in cash from customers who had been billed for services (in transaction 1). 1. 2. The company received a bill for $3,600 of advertising, but will not pay it until a later date. The company paid a dividend of $7,000 in cash to stockholders. 3. 4. Prepare a tabular analysis which shows the effects of these transactions on the accounting equation. (If an amount reduces the account balance th a negative sign preceding the number e.g. -15,000 or parenthesis (15,000).) Assets Liabilities Stockholders' Equity Retained Earnings Cash + Accounts Receivable Accounts Payable + Common Stock + Revenues Expenses Dividends (1) %24 24 $1 %24 (2) $. 24 $4 (3) $ %24 24 (4) s 2$

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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