Recording Adjusting Entries $($Accrued Accounts$)$

In each of the following transactions $(1)$ through $(3)$ for Romney's Marketing Company record the adjusting entry at year$-$end December $31,2015.$

Estimated electricity usage at $$450$ for December; to be paid in January $2016.$

On September $1,2015,$ loaned $$6,000$ to an officer who will repay the loan principal and interest in one year at an annual interest rate of $14$ percent. $($entry at year end $-$ not entry to record Sept $1$ note$)$

Owed wages to $10$ employees who worked four days at $$200$ each per day at the end of December. The company will pay employees at the end of the first week of January $2016$

Determining Financial Statement Effects of Adjusting Entries $($Accrued Accounts$)$

For each of the transactions above, indicate the amounts 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, $-$ for decrease, and NE for no effect.

$\backslash$table$[[$Tranuction$,$BALANCE SHERT,INCOVIE STATEMENT$],[$Asets$,$Labilitis,$\backslash$table$[[$Stocklolders$\text{'}],[$Equity$]],$Revenues,Expenses,$\backslash$table$[[$Not$],[$Income$]]],[a.,,,,,,],[b,,,,,,],[c,,,,,,]]$