For each transaction in M2-4 (including the sample), post the effects to the appropriate T accounts and

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For each transaction in M2-4 (including the sample), post the effects to the appropriate T accounts and determine ending account balances. Beginning balances are provided.image

M2-4

For each of the following transactions of Dennen Inc. for the month of January 2018, indicate the accounts, amounts, and direction of the effects on the accounting equation. A sample is provided.a. (Sample)?Borrowed?$30,000?from a?local?bank.b.?Lent?$10,000?to an affiliate; accepted a note due in one year.c.?Sold?100?additional?shares to investors for?$500?cash.d. Purchased $15,000 of equipment, paying $5,000 cash and signing a note for the rest due in one year.e.?Declared?and paid?$2,000?in?dividends?to shareholders.image

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Financial Accounting

ISBN: 978-1259105692

6th Canadian edition

Authors: Robert Libby, Patricia Libby, Daniel G Short, George Kanaan, Maureen Sterling

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