Indicate how each event affects the financial statements. 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. You do not need to enter dollar amounts.Increase = I Decrease = D Not Affected = NAOn May 16, Year 5, Zinke Corporation recognized an impairment loss of $50,000 of goodwill. The goodwill was originally recorded two years earlier in connection with the acquisition of another company. Show how the impairment loss affected the financial statements in Year 5.

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The Answer of Indicate how each event affects the financial statements. 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. You do not need to enter dollar amounts.Increase = I Decrease = D Not Affected = NAOn May 16, Year 5, Zinke Corporation recognized an impairment loss of $50,000 of goodwill. The goodwill was originally recorded two years earlier in connection with the acquisition of another company. Show how the impairment loss affected the financial statements in Year 5.

Indicate How Each Event Affects the Financial Statements