Determining Financial Statement Effects of Seven Typical Adjusting Entries
Refer to E4-6.
Required:
For each of the transactions in E4-6, indicate the amount and direction of effects of the adjusting entry on the elements of the balance sheet and income statement. Using the following format, indicate + for increase, ˆ’ for decrease, and NE for noeffect.

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BALANCE SHEET INCOME STATEMENT Stockholders" Net Income Assets Transaction Liabilities Equity Revenues Expenses a. b. C. (etc.)