Koikov Corporation recognized the annual expiration of insurance on December
Koikov Corporation recognized the annual expiration of insurance on December 31, 2015. Using the following horizontal financial statements model, indicate how this event affected the company’s financial statements under the following two assumptions:
(1) The insurance was for office equipment, or
(2) The insurance was for manufacturing equipment.
Indicate whether the event increases (I) decreases (D), or does not affect (NA) each element of the financialstatements.
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