The following transactions are February activities of Swing Hard Incorporated, which offers golfing lessons in the northeastern United States. For each of the following transactions, complete the spreadsheet, indicating the amount and effect (+ for increase and €“ for decrease) of each transaction under the accrual basis. Write NE if there is no effect on the category. Indicate +/€“ if the effects offset within a category. Include expenses as a subcategory of stockholders€™ equity, as shown for the first transaction, which is provided as an example.

Transcribed Image Text:

Transaction Assets Liabilities Stockholders Equity Salaries and Wages Expense (+E)-4750 a. Swing Hard paid $4,750 for wages to its golf b. Swing Hard paid $1750 for electricity used in the c. Swing Hard received an electricity bill for $800 for -4750 NE instructors for the month of February month of January the month of February, to be paid in March.