Question: Transactions made by Huddleston Co for the month of March

Transactions made by Huddleston Co. for the month of March are shown below. Prepare a tabular analysis that shows the effects of these transactions on the expanded accounting equation, similar to that shown in Illustration 3-3 (page 110).
1. The company performed $20,000 of services for customers on account.
2. The company received $20,000 in cash from customers who had been billed for services [In transaction (1)].
3. The company received a bill for $1,800 of advertising but will not pay it until a later date.
4. Huddleston Co. paid a cash dividend of $3,000.

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  • CreatedApril 07, 2014
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