Refer to P4-4.

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 each.

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 Transaction Assets Liabilities Stockholders' Equity Net Revenues Expenses Income a. b. C. etc.