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 91

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. $$\text { Increase } = \mathrm { I } \quad \text { Decrease } = \mathrm { D } \quad \text { No Effect } = \mathrm { N }$$
Stanton Company recognized $5,000 of depreciation expense. $\begin{array}{|l|l|l|l|l|l|}\text { Assets Liabilities } & \text { Equity } & \text { Revenues } & \text { Expenses } & \begin{array}{c}\text { Net } \\\text { Income }\end{array} & \begin{array}{c}\text { Cash } \\\text { Flow }\end{array}\\\hline&&&\end{array}$

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Definitions:

Contingent Reward

A motivational strategy where rewards are given based on the achievement of specific criteria or the performance of certain actions.

Favorable Information

Information that presents a person, company, or product in a positive light, typically used in promotional or persuasive contexts.

Baumeister and Cairns

Refers to researchers who have contributed to the fields of psychology, particularly in exploring self-concept, motivation, and the psychological aspects of sports.

Unfavorable Information

Refers to information that is considered negative or undesirable, often impacting perceptions or decisions negatively.