During Borrowed $67,200 by issuing a note. Paid $10,080 cash dividend to stockholders. Received $14,560 cash from a previously billed customer for services performed. 4. Purchased supplies on account for $3,472. 1. 2. 3. Using the following tabular analysis, show the effect of each transaction on the accounting equation. For retained for revenues expenses, and dividends if necessary. (If a transaction results in a of the amount entere
During Borrowed $67,200 by issuing a note. Paid $10,080 cash dividend to stockholders. Received $14,560 cash from a previously billed customer for services performed. 4. Purchased supplies on account for $3,472. 1. 2. 3. Using the following tabular analysis, show the effect of each transaction on the accounting equation. For retained for revenues expenses, and dividends if necessary. (If a transaction results in a of the amount entere
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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During Zuzz, namrock Corp. entered into the following transactions.
Borrowed $67,200 by issuing a note.
Paid $10,080 cash dividend to stockholders.
Received $14,560 cash from a previously billed customer for services performed.
4. Purchased supplies on account for $3,472.
1.
2.
3.
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 entere
for the particular Asset, Liability or Equity item that was reduced.)
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