Indicate how each event affects the elements of the financial statements. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts. Increase = IDecrease = DNo Effect = NA(Note that "No Effect" means that the event either does not affect the element of the financial statements or that the event causes an increase in that element and is offset by a decrease in that same element.) Charles Company recorded accrued vacation pay.AssetsLiabilitiesStk. EquityRevenuesExpensesNetStmt. of ?IncomeCash Flows???????
What will be an ideal response?
(NA) (I) (D) (NA) (I) (D) (NA)
Recording accrued vacation pay increases liabilities (vacation pay payable) and decreases stockholders' equity (retained earnings). It increases expenses (vacation pay expense), which decreases net income. It does not affect the statement of cash flows.
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An invoice is a request by the seller for payment from the purchaser
Indicate whether the statement is true or false
Explain, in your own words, the meaning of the coefficient of determination
What will be an ideal response?
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