Question

1. During 2022, Splish Brothers Corp. entered into the following transactions.

1.		Borrowed $56,400 by issuing a note.
2.		Paid $8,460 cash dividend to stockholders.
3.		Received $12,220 cash from a previously billed customer for services performed.
4.		Purchased supplies on account for $2,914.

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 results in a decrease in Assets, Liabilities or Stockholder's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)

		Assets					=	Liabilities			+	Stockholders’ Equity
														Retained Earnings
		Cash	+	Accounts Receivable	+	Supplies	=	Accounts Payable	+	Notes Payable	+	Common Stock	+	Revenues	-	Expenses	-	Dividends
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		$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		enter a dollar amount		enter a dollar amount	Paid div
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		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		enter a dollar amount		enter a dollar amount

2.

Transactions made by Larkspur Co. for the month of March are shown below.

1.		The company performed $16,400 of services for customers on account.
2.		The company received $16,400 in cash from customers who had been billed for services [in transaction (1)].
3.		The company received a bill for $1,476 of advertising but will not pay it until a later date.
4.		Larkspur Co. paid a cash dividend of $2,460.

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 Stockholder's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)

		Assets			=	Liabilities	+	Stockholders’ Equity
										Retained Earnings
		Cash	+	Accounts Receivable	=	Accounts Payable	+	Common Stock	+	Revenues	-	Expenses	-	Dividends
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

Answer 1