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 = NANguyen Co. borrowed $50,000 cash from Metropolitan Bank.AssetsLiabilitiesEquityRevenuesExpensesNet IncomeStmt of Cash Flows???????
What will be an ideal response?
(I) (I) (NA) (NA) (NA) (NA) (I)
Borrowing cash is an asset source transaction that increases a business's assets (cash) and its liabilities (notes payable). 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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Indicate whether the statement is true or false
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Indicate whether the statement is true or false
Mark's marriage to Stephanie was in trouble. He was depressed and spoke to his best friend, Gladwin, about his personal issues. In this scenario, Gladwin was most likely involved in _____.?
A) ?casual listening B) ?over listening C) ?discriminative listening D) ?empathetic listening
Answer the following statements true (T) or false (F)
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