The Accountant for Scott Industries Prepared the Following List of Account

The accountant for Scott Industries prepared the following list of account balances from the company's records for the year ended December 31: $$\begin{array} { l r l } \text { Fees earned } & \$ 165,000 & \text { Cash } \\\text { Accounts receivable } & 14,000 & \text { Selling expenses } \\\text { Equipment } & 64,000 & \text { Common stock } \\\text { Accounts payable } & 12,000 & \text { Interest income } \\\text { Salaries \& wages expense } & 40,000 & \text { Frepaid rent } \\\text { Income taxes payable } & 5,000 & \text { Income taxes expense } \\\text { Notes payable } & 20,000 & \text { Rent expense }\end{array}$$
-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. $\begin{array}{|l|l|l|l|l|}\hline&&\text { Assets } & \text { Liabilities } & \text { Stockholder's equity} \\\hline \text { a) } & \text { Shiny K ar withdrew } \$ 500 \text { cash for food } \\\hline \text { b) } & \begin{array}{l}\text { Shiny K ar Company sold } 2 \text { cars for a total of } \\\$ 55,000 \text { on account }\end{array} \\\hline \text { c) } & \begin{array}{l}\text { The cost of the cars sold in b) above was } \\\$ 40,000\end{array} \\\hline \text { d) } & \begin{array}{l}\text { Shiny Kar received } \$ 35,000 \text { payment for } \\\text { a car previ ously sold on account }\end{array} \\\hline \text { e) } & \text { Shiny Kar paid } \$ 450 \text { for advertising } \\\hline \text { f) } & \begin{array}{l}\text { Shiny K ar purchased } \$ 150 \text { of cleaning } \\\text { supplies on account }\end{array} \\\hline\end{array}$