Question: Brief Exercise 3-2 Your answer is partially correct. Try again. During 2017, Whispering Winds Corp. entered into the following transactions. 1. Borrowed $60,200 by issuing

Brief Exercise 3-2 Your answer is partially correct. Try again. During 2017, Whispering Winds Corp. entered into the following transactions. 1. Borrowed $60,200 by issuing bonds. 2. Paid $9,240 cash dividend to stockholders. 3. Received $14,500 cash from a previously billed customer for services performed 4. Purchased supplies on account for $3,300. CALCULATOR FULL SCREEN PRINTER VERSION BACK Brief Exercise 3-2 Your answer is partially correct. Try again. During 2017, Whispering Winds Corp. entered into the following transactions. 1. Borrowed $60,200 by issuing bonds. 2. Paid $9,240 cash dividend to stockholders. 3. Received $14,500 cash from a previously billed customer for services performed. 4. Purchased supplies on account for $3,300. Using the following tabular analysis, show the effect of each transaction on the accounting equation. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary. (27 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 lostration 3-3 for example.) Assets Liabilities Stockholders' Equity Cash + Accounts Receivable + Supplies Accounts Payable +Bonds Payable +Common Stock +Retained Earnings (1) 60200 (2) 45700 (3) 14500 14500 (4) version
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
