Determining Financial Statement Effects of Adjusting Entries (AP4-4) 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 + Stockhold- ers' Equity; Revenues - Expenses = Net Income; and Net Income accounts are closed to Retained Earnings, a part of Stockholders' Equity.) BALANCE SHEET INCOME STATEMENT Transaction Assets Liabilities Stockholders' Equity Revenues Expenses Net Income a. P4-4 LO4-1