Directions shown in picture attached cedE/1YAdd37. Shiny Kar Company had the following transactions. For each transaction, show the effect on the accounting equationby putting the amount and direction (+, -, or NC for no change) in each box of the table below.Owner'sAssets LiabilitiesEquityI.(a) Shiny Kar withdrew $500 cash for food(b) Shiny Kar Company sold 2 cars for a total of $55,000 onaccount(c) Shiny Kar received a $35,000 payment for a carpreviously sold on account(d) Shiny Kar paid $450 for advertising(e) Shiny Kar purchased $150 of cleaning supplies on account

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37. Shiny Kar Company had the following transactions. For each transaction, show the effect on the accounting equation by putting the amount and direction (+, -, or NC for no change) in each box of the table below.

37. Shiny Kar Company had the following transactions. For each transaction, show the effect on the accounting equation by putting the amount and direction (+, -, or NC for no change) in each box of the table below.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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