Shiny Kar Company Had the Following Transactions

Essay

Shiny Kar Company had the following transactions.For each transaction,show the effect on the accounting equation by putting the amount and direction (plus,minus,or NC for no change)in each box of the table below.
$\begin{array}{|l|l|l|l|} \hline& \text { Assets } & \text { Liabilities: }&\text { Stockholders'Equity } \\\hline \text { a. Shiny Kar paid } \$ 5,000 \text { in cash dividends to stockholders. } & & \\\hline \text { b. Shiny Kar Company sold } 2 \text { cars for a total of } \$ 55,000 \text { on account. } & & \\\hline\text { c. The cost of the cars sold in (b) above was } \$ 40,000 \text {. }\\\hline\text { d. Shiny Kar received } \$ 35,000 \text { payment for a car previously sold on account. }\\\hline\text { e. Sliny Kar paid } \$ 450 \text { for advertising. }\\\hline\text { f. ShinyKar purchased } \$ 150 \text { of cleaning suppliess on account. }\\\hline\end{array}$