Aziz Company entered into the following transactions: a. Performed services on account, $18,500 b. Collected $7,200...

 

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Aziz Company entered into the following transactions: a. Performed services on account, $18,500 b. Collected $7,200 from client related to services performed in a c. Paid $1,500 dividend to shareholders d. Paid salaries of $3,500 for the current month Required: Show the effect of each transaction using the following model. For those boxes in which no entry is required, leave the box blank. Enter decreases in account values as negative numbers. If the effect of a transaction is to increase AND decrease the same item (i.e. Asset, Liability), enter "0" since the net effect on the item is zero. Assets = Liabilities + Shareholders' Equity a. b. C. d. Share Capital Retained Earnings Aziz Company entered into the following transactions: a. Performed services on account, $18,500 b. Collected $7,200 from client related to services performed in a c. Paid $1,500 dividend to shareholders d. Paid salaries of $3,500 for the current month Required: Show the effect of each transaction using the following model. For those boxes in which no entry is required, leave the box blank. Enter decreases in account values as negative numbers. If the effect of a transaction is to increase AND decrease the same item (i.e. Asset, Liability), enter "0" since the net effect on the item is zero. Assets = Liabilities + Shareholders' Equity a. b. C. d. Share Capital Retained Earnings