Indicate how each event affects the financial statements. Use the following letters to record your answer in the box shown below each element. 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
At Landau Company, the petty cash custodian used petty cash to pay for postage charges.
Definitions:
Right to Remain Silent
A legal principle that protects individuals from being compelled to testify or provide information that may incriminate themselves.
Right to an Attorney
The legal entitlement of individuals accused of crimes to have legal representation, whether provided by themselves or, if they are unable to afford one, appointed by the court.
Insider Trading
Conducting illicit trades on the stock exchange for individual advantage by using confidential data.
Tipping
The practice of giving extra money to service workers, over the basic price of the service, as a gesture of appreciation for their work.
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