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. 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
Todd Company collected $2,000 cash from customers in partial settlement of its accounts receivable.
Definitions:
Zygote
The new cell formed by the process of fertilization.
Fertilization
The process by which a sperm and an ovum—the male and female gametes, respectively—join to form a single new cell.
Gamete
A mature haploid male or female germ cell which is able to unite with another of the opposite sex in sexual reproduction to form a zygote.
Chromosome
A thread-like structure of nucleic acids and protein found in the nucleus of most living cells, carrying genetic information in the form of genes.
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