60.1K

Verified Solution

Link Copied!

During 2022, Pina Colada Corp. entered into the following transactions. 1. 2. 3. 4. 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.) (1) (2) (3) Borrowed $64,300 by issuing bonds. Paid $9,340 cash dividend to stockholders. Received $18,400 cash from a previously billed customer for services performed. Purchased supplies on account for $5,000. (4) Cash $ Assets + Accounts Receivable $ + Supplies $ 111 = Accounts Payable $

During 2022, Pina Colada Corp, entered into the following transactions. 1. Borrowed $64,300 by issuing bonds. 2. Paid $9,340 cash dividend to stockholders. 3. Received $18,400 cash from a previously biled customer for services performed. 4. Purchased supplies on account for $5,000. Using the following tabular analysis, show the effect of each transaction on the accounting equation, (If a transaction couses a decrease in Assets, Labilities or Stockholders' Equity, ploce a negative sign (or porentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustrotion 34 for example.)

Answer & Explanation Solved by verified expert

See Answer