Indicate the effects on the accounting equation of the following business transactions of Pilgrim Service Corporation for b) to d) below. Use proper account titles. Transaction a) is answered as a guide.
a) Received cash from Maxwell Jones; issued common stock to him.
b) Received cash from a customer on accounts receivable.

c) Paid cash dividends to the stockholder.

d) Paid cash on accounts payable.

Question

Indicate the effects on the accounting equation of the following business transactions of Pilgrim Service Corporation for b) to d) below. Use proper account titles. Transaction a) is answered as a guide.
a) Received cash from Maxwell Jones; issued common stock to him.
b) 	Received cash from a customer on accounts receivable.

c) 	Paid cash dividends to the stockholder.

d) 	Paid cash on accounts payable.

Quizplus · Accepted Answer

The Answer of Indicate the effects on the accounting equation of the following business transactions of Pilgrim Service Corporation for b) to d) below. Use proper account titles. Transaction a) is answered as a guide.
a) Received cash from Maxwell Jones; issued common stock to him.
b) 	Received cash from a customer on accounts receivable.

c) 	Paid cash dividends to the stockholder.

d) 	Paid cash on accounts payable.

Indicate the Effects on the Accounting Equation of the Following