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Indicate How Each Event Affects the Financial Statements

question 12

Essay

Indicate how each event affects the financial statements. 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 = NAPing Company remitted the sales tax due (that is, paid cash to the tax authority).
Indicate how each event affects the financial statements. 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 = NAPing Company remitted the sales tax due (that is, paid cash to the tax authority).


Definitions:

Communication Message

The information or key point that is being conveyed from the sender to the receiver through various means.

Enthusiasm

A feeling of energetic interest in a particular subject or activity and an eagerness to be involved in it.

Interpreting

The process of translating spoken or signed language into another language.

Communication

The act of exchanging information or expressing ideas and feelings verbally or non-verbally.

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