Determining Financial Statement Effects of Adjusting Entries
Refer to E4-3 and E4-4.
Required:
For each of the transactions in E4-3 and E4-4, 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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INCOME STATEMENT BALANCE SHEET Stockholders' Net Income Transaction Equity Liabilities Revenues Expenses Assets E4-3 (a) E4-3 (b) E4-4 (a) E4-4 (b)