accounting

assessment_31.xls

Effects of Adjusting

Template for indicating the effect of each adjusting entry (a through h from Problem 1) on the balance sheet and income statement. Compute the assets, liabilities, stockholders' equity, revenues, expenses, and net income for all transactions. Huntington Company, year ended December 31, 2012.
Learner:
TRANSACTION	BALANCE SHEET			INCOME STATEMENT
	Assets	Liabilities	Stockholders' Equity	Revenues	Expenses	Net Income
a	NE	-	+	+	NE
b	NE	+	-	NE	900	-
c	-	NE	-	-	+	-
d	NE	-800	800	800	NE	800
e	-2,000	NE	-2,000	NE	2,000	-2,000
f	+	NE	+	+	NE	+
g	NE	+	-	NE	+	-17,500
h	NE	16,000	-	NE	+	-16,000
	CR	CR	DR	CR	DR	DR
	-2,000	15,200	-1,200	800	2,900	-34,700
Change in Assets & Liabilities			17,200	Revenue − Expense =		-2,100
Change In:	DR	CR
Assets		1,000
Liabilities		27,600
Equity	28,600
Must Equal	28,600	28,600
End of worksheet