Indicate How Each Event Affects the Financial Statements

question 156

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 dollar amounts.
Increase = I Decrease = D Not Affected = NA
Furs Company uses the allowance method. On June 20, Furs wrote off an uncollectible account in the amount of $2,000. On September 1, the company collected the receivable that it had previously written off. How would reinstating the receivable (not the collection)affect the financial statements?

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Definitions:

Multiply Controlled Behaviors

Behaviors influenced by more than one environmental factor or contingency, making them complex and sometimes challenging to modify.

Antecedents

Events or conditions that precede and influence behavior, often studied in behavioral psychology to understand causal relationships.

Functional Analysis

A set of procedures used in FBA to analyze contextual variables, primarily focusing on consequences to reduce students’ problem behaviors. It is also used to describe the second stage of FBA, testing hypotheses.

Functional Assessment

A detailed investigation into the factors contributing to problematic behaviors, leading to targeted interventions for improvement.