Financial Assets--Effects of Transactions

question 107

Essay

Financial assets--effects of transactions
Five events involving financial assets are described below:
(a.)Received dividends earned on investment in marketable securities.
(b.)Invested excess cash in marketable securities.
(c.)Determined that a specific account receivable is worthless and wrote it off against the allowance for doubtful accounts.
(d.)Made sale of merchandise for cash.
(e.)Sold available for sale marketable securities at a loss.Cash proceeds from the sale were equal to the current market value reflected in the last balance sheet.
Indicate the effects of each independent transaction or adjusting entry upon the financial measurements shown in the column headings below.Use the code letters,I for increase,D for decrease,and NE for no effect.

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Definitions:

Multiculturalism

The co-existence of diverse cultures, where culture includes racial, religious, or cultural groups and is manifested in customary behaviors, cultural assumptions, and values, patterns of thinking, and communicative styles.

Communism

A political and economic ideology advocating for a classless society in which the means of production are owned and controlled by the community as a whole.

Consumerism

A social and economic order that encourages the purchase of goods and services in ever-greater amounts.

Cultural Diffusion

The spread of cultural beliefs and social activities from one group to another, blending and integrating different cultural practices.