During 2022, Manion 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 performed. 

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 revenues or expenses in the right-hand margin. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary. Use Illustration 3.4 as a model. 

Transcribed Image Text:

+ Stockholders' Equity Common Stock Liabilities Assets Accounts Accounts Bonds Retained + Earnings Cash + Receivable + Supplies = Payable + Payable +