Refer to the information regarding Zimmerman Company in P4-2.
Required:
1. Indicate whether each transaction relates to a deferred revenue, deferred expense, accrued revenue, or accrued expense.
2. Using the following headings, indicate the effect of each adjusting entry and the amount of the effect. Use + for increase, - for decrease, and NE for no effect. (Reminder: Assets = Liabilities + Stockholders' Equity: Revenues - Expenses = Net Income; and Net Income accounts are closed to Retained Earnings, a part of Stockholders' Equity.)

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BALANCE SHEET INCOME STATEMENT Stockholders Net Transaction a. b. c. (etc.) ssets Liabilities Equity Revenues Expenses Income