Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby

Exercise 58

Determining the Accounting Equation Effects of Transactions
Regal Entertainment Group is the largest movie company in the world, taking in over 20 percent of the box office receipts in the United States. Listed here are transactions that typically occur each quarter. Complete the following table, indicating the sign (+ for increase, for decrease, and NE for no effect) and amount of the effect of each transaction. Provide an account name for any revenue or expense transactions included in stockholders' equity. Consider each item independently.
a. Paid cash to purchase equipment costing $30,000.
b. Declared and paid a cash dividend totaling $40,000.
c. Recorded depreciation on property and equipment totaling $78,000.
d. Recorded cash admissions revenues of $450,000.