Indicate How Each Event Affects the Elements of Financial Statements $$\text { Increase } = \mathrm { I } \quad \text { Decrease } = \mathrm { D } \quad \text { No Effect } = \mathrm { N }$$

question 76

Short Answer

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 amounts. $$\text { Increase } = \mathrm { I } \quad \text { Decrease } = \mathrm { D } \quad \text { No Effect } = \mathrm { N }$$
Dave Saba, who had held 12% of Rusch Company's outstanding common stock, agreed to purchase another 8% of Rusch Company's outstanding common stock from Julie Ganz, another major stockholder of Rusch's. Indicate the effect of this event on Rusch's financial statements. $\begin{array}{|l|l|l|l|l|l|}\text { Assets Liabilities } & \text { Equity } & \text { Revenues } & \text { Expenses } & \begin{array}{c}\text { Net } \\\text { Income }\end{array} & \begin{array}{c}\text { Cash } \\\text { Flow }\end{array}\\\hline&&&\end{array}$

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Definitions:

Pus-filled

Describes a condition where an accumulation of pus, typically caused by infection, is present in a tissue or organ.

Edema

is the medical term for swelling caused by excess fluid trapped in the body's tissues.

Wheal

A raised, itchy area of skin that usually indicates an allergic reaction.

Edema

A medical condition characterized by an excess of watery fluid collecting in the cavities or tissues of the body.