EFFECTS OF ADJUSTING ENTRIES ON THE ACCOUNTING EQUATION Four adjusting entries are shown below.

a. Wages Expense 2,490 Wages Payable 2,490

b. Accounts Receivable 3,350 Service Revenue 3,350

c. Rent Expense 1,760 Prepaid Rent 1,760

d. Unearned Service Revenue 4,130 Service Revenue 4,130 Required:

Analyze the adjusting entries and identify their effects on the financial statement accounts. (Ignore any income tax effects.) Use the following format for your answer:

Transaction Assets Liabilities Beginning Common Stock Retained Earnings Revenues Expenses