Several transactions are listed below, with the accounting equation stated to the right side of each. Use the following identification codes to indicate the effects of each transaction on the accounting equation: I = Increase; D = Decrease; NE = No Effect. Write your answers in the space provided under the accounting equation, being sure to include an identification code for each element of the accounting equation. An example is provided before the first transaction.
Definitions:
EPA
Stands for the Environmental Protection Agency, which is a U.S. federal agency tasked with protecting human health and the environment through regulations and enforcement.
Criminal Fines
Penalties imposed by a court requiring an individual convicted of a criminal offense to pay a sum of money as punishment.
Incarceration
The act of detaining someone in prison or another facility as a punishment for a crime.
PSD Area
A designated zone under the Prevention of Significant Deterioration program, aimed at controlling air pollution while allowing for economic growth.
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