During 2017, Bridgeport Corp. entered into the following transactions. 1. Borrowed $60,300 by issuing bonds.
2. Paid $8,540 cash dividend to stockholders.
3. Received $14,500 cash from a previously billed customer for services performed.
4. Purchased supplies on account for $4,000.
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
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(2)
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(3)
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(4)
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