Indicate how each event affects the horizontal financial statements model. Use the following letters to record your answer in the box shown below. If an event increases one account and decreases another account equally within the same element, record I/D. If an event has no impact on the element, record NA. Use only one letter for each element. You do not need to enter amounts.
Increase = IDecrease = D No Affected = NAGrover Company declared a 2-for-1 stock split. Before that announcement, Grover had 40,000 shares of outstanding common stock.

Question

Quizplus · Accepted Answer

The Answer of Indicate how each event affects the horizontal financial statements model. Use the following letters to record your answer in the box shown below. If an event increases one account and decreases another account equally within the same element, record I/D. If an event has no impact on the element, record NA. Use only one letter for each element. You do not need to enter amounts.
Increase = IDecrease = D No Affected = NAGrover Company declared a 2-for-1 stock split. Before that announcement, Grover had 40,000 shares of outstanding common stock.

Indicate How Each Event Affects the Horizontal Financial Statements Model