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. Use only one letter for each element. You do not need to enter amounts.Increase = IDecrease = DNo Effect = NJack Grimes, who had held 12% of Preston Company's outstanding common stock, agreed to purchase another 8% of Preston Company's outstanding common stock from Todd Barbour, another major stockholder of Preston's. Indicate the effect of this event on Preston's financial statements.AssetsLiabilitiesEquityRevenuesExpensesNetIncomeCash Flow? ?????
What will be an ideal response?
(N) (N) (N) (N) (N) (N) (N)
This event has no impact on a company's financial statements. It affects the financial statements of the individual stockholders.
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On October 1, 2020, Jewelry Specialists Company made a loan to one of its customers. The customer signed a 6-month note for $100,000 at 15%. Calculate the total interest earned on the note. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A) $7500 B) $3750 C) $1250 D) $15,000
If P(A)=0.75, P(A?B)=0.86, and P(A?B)=0.56, then P(B)=
A. 0.25. B. 0.67. C. 0.56. D. 0.11.
Information can be misunderstood or made to fit existing beliefs, a process known as selective ________.
A. awareness B. distortion C. memory D. retention E. hearing
A major limitation to direct marketing is the inability of consumers to examine a product prior to purchase
Indicate whether the statement is true or false