Indicate how each event affects the financial statements model. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts. 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.Increase = I Decrease = D Not Affected = NAOn February 1, Year 1, Owen Company paid $24,000 cash to lease office space for one year beginning immediately.

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The Answer of Indicate how each event affects the financial statements model. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts. 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.Increase = I Decrease = D Not Affected = NAOn February 1, Year 1, Owen Company paid $24,000 cash to lease office space for one year beginning immediately.

Indicate How Each Event Affects the Financial Statements Model