Indicate How Each Event Affects the Elements of Financial Statements $\begin{array}{lll}\text { Increase }=I & \text { Decrease }=D & \text { No Effect }=N\end{array}$

question 21

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. $\begin{array}{lll}\text { Increase }=I & \text { Decrease }=D & \text { No Effect }=N\end{array}$
Greene Co. paid $211,000 cash in salaries to its employees. $\begin{array} { l }\begin{array}{|l|l|l|l|l|l|l|}\text { Assets }&\text {Liabilities}&\text { Equity }&\text {Revenues }&\text {Expenses }&\text { Net Income }&\text { Cash }\\\hline & & & & & & \\\hline\end{array}\end{array}$

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Definitions:

Department Store

A large retail establishment that offers a wide range of products divided among different departments within the same building.

Genital Area

The part of the human body that includes the external reproductive organs.

Sadism

The tendency to derive pleasure, especially sexual gratification, from inflicting pain, suffering, or humiliation on others.

Cognitive-Behavioral

A psychotherapeutic approach that treats problems and boosts happiness by modifying dysfunctional emotions, behaviors, and thoughts.