Indicate the Effects on the Accounting Equation of the Following

question 62

Essay

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.