Indicate how each event affects the financial statements. Use the following letters to record your answer in the box shown below each element. 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 = NA
Landau Company established a petty cash fund by issuing a check in the amount of $500 to the petty cash custodian.

Question

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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 each element. 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 = NA
Landau Company established a petty cash fund by issuing a check in the amount of $500 to the petty cash custodian.

Indicate How Each Event Affects the Financial Statements