Question
Identify the effect, if any, that each of the following transactions would have upon Denver Technologies Corp. (DTC), cash and retained earnings. Show the dollar
Identify the effect, if any, that each of the following transactions would have upon Denver Technologies Corp. (DTC), cash and retained earnings. Show the dollar amount and the effect (+, , N).
Retained
_Cash__ Earnings
1. Purchases equipment for $3,000 _______ _______
2. Purchased $200 of supplies for cash _______ _______
3. Recorded an adjusting entry to record use of
$110 of the above supplies. _______ _______
4. Received $600 from customers in payment of
their accounts _______ _______
5. Recorded depreciation of equipment for period
used, $900. _______ _______
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