Below Are Several Accounts from Denison Company's Accounting Records

Essay

Below are several accounts from Denison Company's accounting records. Columns representing the accounting equation appear to the right of each transaction listed below. Next to each transaction in the column of the respective account classification, write the 1) name of each account, 2) the dollar amount by which each account increases or decreases, and 3) either debit or credit to indicate the effect on the account, for each of the adjustments necessary at the end of May 2016. The company records adjustments monthly.