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 = NAMoreno Company appropriated $12,000,000 of retained earnings for the purpose of building a new office building.

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 = NAMoreno Company appropriated $12,000,000 of retained earnings for the purpose of building a new office building.

Indicate How Each Event Affects the Horizontal Financial Statements Model