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 37

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. $$\text { Increase } = \mathrm { I } \quad \text { Decrease } = \mathrm { D } \quad \text { No Effect } = \mathrm { N }$$
The Minneapolis Company spent $8,000 to improve the quality of one of its assets. $\begin{array}{|l|l|l|l|l|l|}\text { Assets Liabilities } & \text { Equity } & \text { Revenues } & \text { Expenses } & \begin{array}{c}\text { Net } \\\text { Income }\end{array} & \begin{array}{c}\text { Cash } \\\text { Flow }\end{array}\\\hline&&&\end{array}$

---

Definitions:

Alzheimer's Disease

A progressive neurological disorder that causes memory loss, cognitive decline, and eventually leads to death.

Ethnic/Racial Groups

Socially defined categories of people who identify with each other based on shared ancestral, linguistic, cultural, or national experiences.

White Americans

Individuals residing in the United States who have origins in any of the original peoples of Europe, the Middle East, or North Africa.

Asian Americans

A diverse group of people in the United States with origins from countries in Asia, including China, India, Japan, Korea, the Philippines, and Vietnam, among others.