Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby

Exercise 72

Determining the Accounting Equation Effects of Operating Activities involving Expenses
The following transactions are February 2013 activities of Swing Hard Incorporated, which offers golfing lessons in the northeastern United States. For each of the following transactions, complete the spreadsheet, indicating the amount and effect (+ for increase and - for decrease) of each transaction under the accrual basis. Write NE if there is no effect. Include expenses as a subcategory of stockholders' equity, as shown for the first transaction, which is provided as an example.