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 78

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. $$\text { Increase } = \mathrm { I } \quad \text { Decrease } = \mathrm { D } \quad \text { No Effect } = \mathrm { N }$$
On January 1, 2014, Thayer Co. issued $100,000 of bonds payable. On December 31, 2021, when the bonds matured, Thayer used cash to repay the bond principal and interest, which had not been accrued previously. Indicate the effects of the 12/31/21 payment. $\begin{array}{|l|l|l|l|l|l|}\text { Assets Liabilities } & \text { Equity } & \text { Revenues } & \text { Expenses } & \begin{array}{c}\text { Net } \\\text { Income }\end{array} & \begin{array}{c}\text { Cash } \\\text { Flow }\end{array}\\\hline&&&\end{array}$

---

Definitions:

Maternal Relatives

Family members related through one's mother's side, including grandparents, aunts, uncles, and cousins.

Homosexual Relatives

Relatives who identify as homosexual, indicating a shared sexual orientation towards individuals of the same gender within a family.

Second Trimester

The period of pregnancy that ranges from week 13 to week 26, during which significant fetal growth and development occur.

Brain Development

The process involving the growth and maturation of the brain, influencing cognitive, motor, and emotional skills.