Kimmel, Financial Accounting, Ge Assignment Gradebook ment Brief Exercise 3-2 Du

Question

Kimmel, Financial Accounting, Ge Assignment Gradebook ment Brief Exercise 3-2 During 2012, Gavin Corp. entered into the following transactions. 1. Borrowed $62,630 by issuing bonds. 2. Paid $8,990 cash dividend to stockholders. 3. Received $11,550 cash from a previously billed customer for services provided. 4. Purchased supplies on account for $3,620. Using the following tabular analysis, show the effect of each transaction on the accounting equation. FP separate columns for Revenues, Expenses, and Dividends if necessary. (If a transaction causes a d front of the amount entered for the particular Asset, Liability or Equity item that was reduce ssets Accounts Receivable Accou Supplies Click if you would like to Show Work for this question: Qeen Show Work LINK TO TEXT LINK TO TEXT 4 Division of labn Wis& ons as ere to search hp

Explanation / Answer

3-2.

3-5.

Cash + Account Receivables + Supplies = Account Payable + Bonds Payable + Common Stock + Retained Earnings +62630 +62630 -8990 -8990 +11500 -11500 +3620 +3620

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