Determining Financial StatementEffects of Adjusting Entries (Accrued Accounts)
For each of the transactions in M4-6. indicate the amount s and direct ion of effects of the adjusting entry on the element s of the balance sheet and income statement. Using the following format. Indicate + for increase. – for decrease. and NE for no effect.
BALANCE SHEET | INCOME STATEMENT | |||||
Transaction | Assets | Liabilities | Stockholders’ Equity | Revenues | Expenses | Net Income |
a. | ||||||
b. | ||||||
c. | ||||||
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