Question

Do It! Review 1-4 Transactions made by Skysong, Inc., a law firm, for the month of March are shown below. 1. 2. The company performed $18,500 of services for customers, on credit. The company received $18,500 in cash from customers who had been billed for services (in transaction 1). The company received a bill for $3,800 of advertising, but will not pay it until a later date. The company paid a dividend of $7,500 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 then enter with a negative sign preceding the number e.g. -15,000 or parenthesis (15,000).) Assets Liabilities Stockholders' Equity Retained Earnings Revenues Expenses Cash Accounts Receivable Accounts Payable Common Stock + Dividends (1) $ $ $ $ (2) $ $ $ $ $ $ (3) $ $ (4) $ $ $

Answer 1

Answer-:

Using accounting equation, tabular analysis are as follows-:

S.no.	Assets=	Liabilities+	Stockholder's equity
	Cash	Accounts receivable	Accounts payable	Common stock	Revenues	-Expenses	- Dividends
1.	-	18,500	-	-	18,500	-	-
2.	18,500	(18,500)	-	-	-	-	-
3.	-	-	3,800	-	-	(3800)	-
4.	(7,500)	-	-	-	-	-	(7500)

Thankyou........