During 2012, Gavin Corp. entered into the following transactions

During 2012, Gavin Corp. entered into the following transactions.
1. Borrowed $60,000 by issuing bonds.
2. Paid $9,000 cash dividend to stockholders.
3. Received $13,000 cash from a previously billed customer for services provided.
4. Purchased supplies on account for $3,100.
Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to Stockholders€™ Equity in the right-hand margin. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary. Use Illustration 3-3 (page 110) as amodel.
Assets + Stockholders' Equity Common Retained Stock + Earnings Liabilities Accounts Accounts Bonds Cash + Receivable + S
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...