Question

Indicate how each event affects the elements of financial statements. Use the following letters to record vour answer in the box shown below each element. You do not need to enter dollar amounts. (Note that "Not Affected" means that the event does not affect that element of the financial statements or the event causes an increase in that element that is offset by a decrease in the same element.)

Paragraph Styles 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 dollar amounts. (Note that "Not Affected" means that the event does not affect that element of the financial statements or the event causes an increase in that element that is offset by a decrease in the same element.) Increase=1 Decrease =D Not Affected = NA 7) In preparing the bank reconciliation for Heath Company, an employee found that the bank statement reported a bank service charge of $50. Stmt of Assets Liabilities Stk. Equity Revenues Expenses Net Income Cash Flows 8) In preparing the bank reconciliation for Heath Company, an employee discovered that the bank had collected one of the company's notes receivable in the amount of $20,000 and had deposited this amount in the company's account at the bank. This amount does not include interest Somt of Assets Liabilities Stk. Equity Revenues Expenses Net Income Cash Flows 9) In preparing the bank reconciliation for Heath Company, an employee discovered an error. A $654 cash receipt for the collection of an account receivable was recorded in the company's books as 5645. The deposit slip was correct, and the bank deposit had been correctly prepared The error appeared only in the company's accounting records. Stmt of Assets Liabilities Stk. Equity Revenues Expenses Net Income Cash Flows

Answer 1

Expenses Assets D Liabilities NA Stk. Equity D Revenues NA Net Income D Stmt. of Cash Flows D Assets Liabilities Stk. Equity ΝΑΙ ΝΑΙ ΝΑ Revenues NA Stmt. of Cash Expenses Net Income Flows ΝΑΙ ΝΑΙ Ι Stmt. of Cash Flows Assets NA ܚ ܚܚܸܚ Liabilities NA 1 ܝܙ Stk. Equity NA Revenues NA Expenses NA Net Income NA ܚ