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 87

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 XYZ Company purchased the ABC Company for $520,000 cash. ABC's assets had been appraised at $410,000. ABC had liabilities of $40,000, which XYZ assumed. How would the purchase of ABC affect XYZ's financial statements? $\begin{array}{|l|l|l|l|l|l|}\text { Assets Liabilities } & \text { Equity } & \text { Revenues } & \text { Expenses } & \begin{array}{c}\text { Net } \\\text { Income }\end{array} & \begin{array}{c}\text { Cash } \\\text { Flow }\end{array}\\\hline&&&\end{array}$

Describe physical development trends in infancy and childhood and compare developmental sequences.

Identify newborn sensory capabilities and reflexes and their survival benefits.

Compare cultural differences in infant sleeping arrangements and underlying beliefs.

Understand various marketing tactics and identify ethical concerns within them.

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Definitions:

Assumed Investment Rate

A projected or hypothetical rate of return on an investment over a specified period.

Annuity Cost

The total amount of money it takes to fund an annuity, which provides a series of payments at fixed intervals.

Roth Retirement Plan

A type of retirement savings account allowing taxed contributions to grow tax-free, with withdrawals in retirement also being tax-free.

Regular Retirement Plan

A retirement savings plan that allows individuals to save and invest for retirement, typically with tax advantages or benefits.