Indicate How Each Event Affects the Elements of Financial Statements

question 46

Essay

Indicate how each event affects the elements of financial statements. Use the following letters to record your answer in the box shown below each element. You do not need to enter dollar amounts. If an event increases one account and decreases another account equally within the same element (such as an asset exchange event), record I/D. If an event has no impact on the element, record NA.Increase = I Decrease = D Not Affected = NAWetzel Company sold merchandise to a customer for $1,400 cash. The merchandise had originally cost Wetzel $850. (Consider the effects of both parts of this event.)

---

Definitions:

Simple Sentence

A sentence structure consisting of only one independent clause that has a subject and a predicate.

Numerals

Symbols or characters used to represent numbers.

Bullets

Small symbols, often dots, used in lists for separating items, making them more readable.

Writers Techniques

Various strategies and methods used by writers to convey their messages effectively and engage their readers.