Transactions made by Metlock, Inc., a law firm, for the month of March are as follows.
1. The company performed $32,500 of services for customers, on credit.
The company received $32,500 in cash from customers who had been billed for services (in transaction 1).
The company received a bill for $3,800 of advertising, but will not pay it until a later date.
The company paid a dividend of $6,500 in cash to stockholders.
4. Prepare a tabular analysis that shows the effects of these transactions on the accounting equation. (If an amount reduces the account
balance then enter with a negative sign preceding the number eg-15,000 or parenthesis (15,000))
Answer rating: 100% (QA)
An accounting equation is a statement showing the effects of financial transactions on a baView the full answer