Indicate How Each Event Affects the Horizontal Financial Statements Model

question 80

Essay

Indicate how each event affects the horizontal financial statements model. Use the following letters to record your answer in the box shown below. If an event increases one account and decreases another account equally within the same element, record I/D. If an event has no impact on the element, record NA. You do not need to enter amounts.Increase = I Decrease = D Not Affected = NAOn January 1, Year 1, Ravenswood Company issued a long-term installment note. Show how the issuance of the note affected the financial statements.

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Definitions:

Need for Competence

An individual's intrinsic desire to be effective in dealing with the environment and to master complex tasks.

Intrinsic Motivation

A drive to perform an activity for its inherent satisfaction rather than for some separable outcome or external reward.

Need for Capability

The requirement for a person or organization to have the skills, resources, or abilities necessary to accomplish a task or realize a goal.

Intrinsic Motivation

The drive to perform an activity for its inherent satisfaction and pleasure, rather than for some separable consequence or reward.