Question

In Accounting

Current Attempt in Progress During 2022, Riverbed Corp entered into the following transactions. 1. Borrowed $61,100 by issuing bonds. 2. Paid $8,880 cash dividend to stockholders. 3. Received $18,700 cash from a previously billed customer for services performed. 4. Purchased supplies on account for $2,600. Using the following tabular analysis, show the effect of each transaction on the 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.) Assets = Liabilities + Stockholders' Equity Cash + Accounts Receivable + + Supplies = Accounts Payable + Bonds Payable + Common Stock Retained Earnings Dividends E E

Answer 1

Assets

=

Liabilities

+

Stockholders equity

Cash

+

Accounts Receivable

+

Supplies

=

Accounts Payable

+

Bonds Payable

+

Common stock

+

Retained Earnings

1

$ 61,100.00

$     61,100.00

Dividend

2

$ (8,880.00)

$          (8,880.00)

3

$ 18,700.00

$             (18,700.00)

4

$ 2,600.00

$           2,600.00