Determining the Financial Statement Effects of Operating Activities Involving Expenses
The following transactions are July 2011 activities of Craig€™s Bowling, Inc., which operates several bowling centers (for games and equipment sales). For each of the following transactions, complete the tabulation, indicating the amount and effect (+ for increase and €“ for decrease) of each transaction. (Remember that A = L + SE, R €“ E = NI, and NI affects SE through Retained Earnings.) Write NE if there is no effect. The first transaction is provided as anexample.

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BALANCE SHEET INCOME STATEMENT Stockholders' Equity Net Revenues Expenses Income Assets Liabilities Transaction e. Craig's sold bowling merchandise costing $3,890. [The sale related NE NE +3,890 -3,890 -3,890 -3,890 to the use of this merchandise is in M3-3b.] f. Craig's paid $1,900 on the electricity bill for June (recorded as expense in June). g. Craig's paid $4,700 to employees for work in July. h. Craig's purchased S1,800 in insurance for coverage from July 1 to October 1. i Craig's paid $1,400 to plumbers for repairing a broken pipe in the restrooms. j. Craig's received the July electricity bill for $2,600 to be paid in August.