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.(Note that "No Effect" means that the event does not effect that element of the financial statements or that the event causes an increase in that element is offset by a decrease in that same element.)Increase = IDecrease = DNo Effect = NAWalker Co. issued common stock for $150,000 cash.AssetsLiabilitiesEquityRevenuesExpensesNet IncomeStmt of Cash Flows???????
What will be an ideal response?
(I) (NA) (I) (NA) (NA) (NA) (I)
Issuing common stock is an asset source transaction that increases the business's assets (cash) and its stockholders' equity (common stock). It does not affect the income statement, but is reported as a cash flow from financing activities in the statement of cash flows.
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Trompenaars's universalism-particularism dimension addresses
A. which matters most to people in the society, universal goodness or particularist emotions. B. a culture's inclination to have a global foreign policy. C. the degree to which the individual (particularist) is the focus of social attention. D. whether rules or relationships regulate behavior.
The receivable that is usually evidenced by a formal instrument of credit is a(n)
A) trade receivable. B) note receivable. C) accounts receivable. D) income tax receivable.
Lynn, the manager of a transportation company, goes through the product delivery schedule. She assigns territories to each executive of the delivery team, and also contacts the fleet supervisor to arrange trucks for transportation. Which activity of the value chain is Lynn executing?
A. outbound logistics B. sales C. inbound logistics D. customer service E. marketing
The primary colors–yellow, red, and blue–can be combined to produce secondary colors
Indicate whether the statement is true or false.