Dorsett Company's Tabular Analysis at the Beginning of May Consisted

question 78

Multiple Choice

Dorsett Company's tabular analysis at the beginning of May consisted of the following balances: During October the company borrowed an additional $4500 from Trans-Union National Bank and used the funds to purchase additional equipment with a cost of $4000.What would be the combined effect of these two transactions on the tabular analysis?

• A)Increase Cash $4500 and increase Expenses $4500.
• B)Increase Cash $500 increase Equipment $4000 and increase Notes Payable $4500.
• C)Increase Cash $4500 increase Expenses $500 and decrease Notes Payable $4000.
• D)Increase Notes Payable $4500 and increase Equipment $4500.

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