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Hi, I'm not sure how to do this question. If anyone can explain to me. Thank you so much. Following are the transactions of Dennen,
Hi, I'm not sure how to do this question. If anyone can explain to me. Thank you so much.
Following are the transactions of Dennen, Inc., for the month of January 2015. a. (Sample) Borrowed $22,500 from a local bank. b. Lent $8,400 to an affiliate; accepted a note due in one year. c. Sold 70 additional shares of stock with a par value of S0.10 per share to investors for $2,400 cash. d. Purchased $21,500 of equipment, paying $5,400 cash and signing a note for the rest due in one year. e. Declared and paid $2,100 in dividends to stockholders. For each of the above transactions of Dennen, Inc., for the month of January 2015, indicate the accounts, amounts, and direction of the effects (+ for increase and - for decrease) on the accounting equation. A sample is provided. Assets Liabilities Stockholders' Equity a. Cash 22,500Notes payable 22,500 b. C. d. eStep by Step Solution
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