ter 2 exercises Score: 4.5 of 10 pts 4 of 10 (4 complete E2-19A (book/static) The following selected events were experienced by either Smith Eldercare Services, Inc., a corporation, or Tony Smith, its major stockholder, (Click the icon to view the transactions.) Requirement 1. State whether each event (1) increased, (2) decreased, or (3) had no effect on the total assets of the business. Identify any specific asset affected. State whether each event (1) increased, (2) decreased, or (3) had no effect on the total assets of the business. Identify any specific asset affected. If no effect, indicate the reason Account affected or why Transaction Asset effect assets are not affected a. Paid $400 cash on accounts payable. Decreased Cash b. Made a cash purchase of land for a building site for the business, $89.000 No effect Asset accounts offset c. Sold land and received cash of $69,000 (the land was carried on the company's books at $69,000). No effect Asset accounts offset d. Received $15,400 cash from customers on account No effect Asset accounts offset e. Purchased medical equipment and signed a $90,000 promissory note in payment Increased Equipment Asset effect Account affected or why assets are not affected Transaction 1. Purchased a flat-screen TV for Smith's home. 9. Paid Smith a cash dividend of $4,000. h. Purchased office supplies on account for $1,200. L. Borrowed $62,000 from the bank for use in the business i. Received $12,000 cash and issued stock to a stockholder