Transactions made by Oriole Company for the month of March are shown below. The company performed...

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Transactions made by Oriole Company for the month of March are shown below. The company performed $23,060 of services for customers on account. The company received $23,060 in cash from customers who had been billed for services [in transaction (1)]. The company received a bill for $3,820 of advertising but will not pay it until a later date. Oriole Company paid a cash dividend of $2,070. 1. 2 3. 4 Prepare a tabular analysis that shows the effects of these transactions on the expanded accounting equation. (If 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 Illustration 3-4 for example.) (1) (2) (3) (4) Cash $ Assets + Accounts Receivable $ Liabilities Accounts Payable $ Common Stock $ Transactions made by Oriole Company for the month of March are shown below. The company performed $23,060 of services for customers on account. The company received $23,060 in cash from customers who had been billed for services [in transaction (1)]. The company received a bill for $3,820 of advertising but will not pay it until a later date. Oriole Company paid a cash dividend of $2,070. 1. 2 3. 4 Prepare a tabular analysis that shows the effects of these transactions on the expanded accounting equation. (If 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 Illustration 3-4 for example.) (1) (2) (3) (4) Cash $ Assets + Accounts Receivable $ Liabilities Accounts Payable $ Common Stock $

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Accounting Equation The accounting equation is calculated using following equation Assets Liabilities Equity Every transaction has two effects and all the transactions need to be put into the equation so that the balance sheet balances Every transaction has one debit effect and another credit effect Hence we have to place those transactions as per the golden rules of accounting Prepare the tabular analysis that shows the effects of these transactions on the explained accounting equation as follows Thereforethe following analysis is shown as above The cash balance is 20730 Accounts Receivable is Nil Accounts Payable is 3820 Common Stock is Nil Retained Earnings is 17170 23 4 5 6 7 8 9 10 11 12 A SN B D Orible Company Accounting Equation For the month of March Assets Cash 1 S 2 23060 3 S 4 2070 Total 20730 Accounts Receiavble 23060 23060 E S S S Liabilitie ... View the full answer