Shiny Kar Company Had the Following Transactions

question 69

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.
$\begin{array}{|l|l|l|l|}\hline &Assets&Liabilities&Owner's~ Equity\\\hline \text{a. Shiny Kar withckew \$ 500 cash for food.}\\\hline \text{b. Shiny Kar Company sold 2 cars for a total of \$ 55,000 on account.}\\\hline \text{c. The cost of the cars sold in (b) above was \$ 40,000 .}\\\hline \text{d. Shiny Kar received \$ 35,000 payment for a car previously sald on account.}\\\hline \text{e. Shiny Kar paid \$ 450 for advertising,}\\\hline \text{f. Shiny Kar purchased \$ 150 of cleaning supplies on account.}\\\hline \end{array}$

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Definitions:

Generalizing

The process of extending the application of a response to stimuli that are similar to the conditioned stimulus in conditioned learning, or drawing broad conclusions from specific instances.

Vivid Cases

Highly memorable and striking instances or examples that stand out in the mind.

Sleep Deprivation

The condition of not having enough sleep, which can adversely affect health, cognitive functions, and emotional well-being.

Replication

Repeating the essence of a research study, usually with different participants in different situations, to see whether the basic finding extends to other participants and circumstances.