Transactions made by Ivanhoe Company for the month of March are shown below. 1.

Question

Transactions made by Ivanhoe Company for the month of March are shown below. 1. The company performed $19,650 of services for customers on account. 2. The company received $19,650 in cash from customers who had been billed for services [in transaction (1) 3. The company received a bill for $3,450 of advertising but will not pay it until a later date 4. Ivanhoe Company paid a cash dividend of $4,000 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 Ilustration 3-3 for example.) Liabilities+ Stockholders' Equity Cash + Accounts Receivable = Accounts Payable + Common Stock + Retained Earnings RevenuesExpensesDividends

Explanation / Answer

solution :-

Cash Accounts Receivable Accounts Payable Common Stock Retained Earning Revenues Expenses Dividends 1) +$19650 +$19650 2) +$19650 -$19650 3) +$3450 -$3450 4) -$4000 -$4000

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