Question: Show the effect of each of the
Show the effect of each of the following independent accounting events on the financial statements using a horizontal statements model like the following one. Use + for increase, − for decrease, and NA for not affected. The first event is recorded as an example. 
a. Issued a bond at face value. b. Borrowed funds using a line of credit. c. Made an interest payment for funds that had been borrowed against a line of credit. d. Made a cash payment on a note payable for both interest and principal. e. Made an interest payment on a bond that had been issued at face value.
Transcribed Image Text:
Event No. Assets Liab. Equity Rev. Еxp. Net Inc. Cash Flow + NA NA NA NA + FA a II
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