Transactions made by Pharoah Company for the month of March are shown below. 1.. The company performed $23,660 of services for customers on account. The company received $23,660 in cash from customers who had been billed for services [in transaction (1)]. The company received a bill for $2,470 of advertising but will not pay it until a later date. Pharoah Company paid a cash dividend of $2,930. 2. 3. 4. Prepare a tabular analysis that shows the effects of these transactions on the expanded accounting equation. (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 3-4 for example.) (1) (2) (3) (4) Cash $ Assets + Accounts Receivable Liabilities Accounts Payable + Common Stock
Transactions made by Pharoah Company for the month of March are shown below. 1.. The company performed $23,660 of services for customers on account. The company received $23,660 in cash from customers who had been billed for services [in transaction (1)]. The company received a bill for $2,470 of advertising but will not pay it until a later date. Pharoah Company paid a cash dividend of $2,930. 2. 3. 4. Prepare a tabular analysis that shows the effects of these transactions on the expanded accounting equation. (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 3-4 for example.) (1) (2) (3) (4) Cash $ Assets + Accounts Receivable Liabilities Accounts Payable + Common Stock
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Transactions made by Pharoah Company for the month of March are shown below.
1..
2.
3.
4.
Prepare a tabular analysis that shows the effects of these transactions on the expanded accounting equation. (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 3-4 for example.)
(1)
(2)
(3)
The company performed $23,660 of services for customers on account.
The company received $23,660 in cash from customers who had been billed for services [in transaction (1)].
The company received a bill for $2,470 of advertising but will not pay it until a later date.
Pharoah Company paid a cash dividend of $2,930.
(4)
Cash
$
Assets
+ Accounts Receivable
Liabilities
Accounts Payable
+ Common Stock](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0ef30333-002e-4001-8a6b-4dc376258695%2F32b3f8b7-be6c-4242-8792-b65ec2951e4d%2Fjufmehj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Transactions made by Pharoah Company for the month of March are shown below.
1..
2.
3.
4.
Prepare a tabular analysis that shows the effects of these transactions on the expanded accounting equation. (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 3-4 for example.)
(1)
(2)
(3)
The company performed $23,660 of services for customers on account.
The company received $23,660 in cash from customers who had been billed for services [in transaction (1)].
The company received a bill for $2,470 of advertising but will not pay it until a later date.
Pharoah Company paid a cash dividend of $2,930.
(4)
Cash
$
Assets
+ Accounts Receivable
Liabilities
Accounts Payable
+ Common Stock
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