During 2022, 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. (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.)
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 |
Using the following tabular analysis, show the effect of each transaction on the 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.)
Assets |
= |
Liabilities |
+ |
Stockholders’ Equity |
||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash | + | Accounts Receivable | + | Supplies | = | Accounts Payable | + | Bonds Payable | + | Common Stock | + |
Retained Earnings |
||
(1) |
60100 | 60100 | ||||||||||||
(2) |
-9480 | -9480 | ||||||||||||
(3) |
18500 | -18500 | ||||||||||||
(4) |
4600 | 4600 |
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