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Using Adjusting Entries to Analyze Effects
Huntington Company's annual accounting year ends on December 31. It is December 31, 2011, and all of the 2011 entries except the following adjusting entries have been made:
Using + for increase, - for decrease, and NE for no effect, indicate in the table provided the effect of each adjusting entry and the amount of the effect. Reminder: Assets = Liabilities + Stockholders' Equity; Revenues - Expenses = Net Income; and Net Income accounts are closed to Retained Earnings, a part of Shareholders' Equity.
Attachment:- Analyzing effects table.xls
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