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Question 2 Rowand Enterprises had the following selected transactions. 1. Aaron Rowand invested $4.000 in the business in exchange for ordinary shares. 2. Paid office
Question 2 Rowand Enterprises had the following selected transactions. 1. Aaron Rowand invested $4.000 in the business in exchange for ordinary shares. 2. Paid office rent of $1,100. 3. Performed consulting services and billed a client $5,200. 4. Declared and paid a $700 cash dividend. Instructions (a) Indicate the effect cach transaction has on the accounting equation (Assets = Liabilities + Equity), using plus and minus signs. (b) Journalize each transaction
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