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.Enter only one letter for each element.You do not need to enter amounts.

-On September 1,2016,Diaz Company loaned $10,000 to Ace Company.Show the effect of this transaction on Diaz's financial statements.

Question

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.Enter only one letter for each element.You do not need to enter amounts.
 
-On September 1,2016,Diaz Company loaned $10,000 to Ace Company.Show the effect of this transaction on Diaz's financial statements.

Quizplus · Accepted Answer

The Answer is (N)(N)(N)(N)(N)(N)(D)

Indicate How Each Event Affects the Elements of Financial Statements