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The following selected events were experienced by other Smith Eldercare Services, Inc. a corporation, or Tony Smith, its major stockholder (Click the loon to view

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The following selected events were experienced by other Smith Eldercare Services, Inc. a corporation, or Tony Smith, its major stockholder (Click the loon to view the transactions) Requirement 1. State whether each event (1) increased, (2) decreased, of (3) had no effect on the total of the business Identify any species affected State whether each event (1) increased, (2) decreased, or (3) had no effect on the total assets of the business. Identify any specific ante affected. If no effect, indicate the reason Account affected or why Transaction Asset effect sets are not affected a. Paid $400 cash on accounts payable. Decreased b. Made a cash purchase of land for a building the for the business, $80,000 Noelect 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 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. Account affected or why ssel effect Transaction f. Purchased a flat-screen TV for Smith's home. g. 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 Received $12.000 cash and issued stock to a stockholder. a. Paid $400 cash on accounts payable. b. Made a cash purchase of land for a building site for the business, $89,000. c. Sold land and received cash of $69,000 (the land was carried on the company's books at $69,000). d. Received $15,400 cash from customers on account. e. Purchased medical equipment and signed a $90,000 promissory note in payment. Purchased a flat-screen TV for Smith's home. g. Paid Smith a cash dividend of $4,000. h. Purchased office supplies on account for $1,200. i. Borrowed $62,000 from the bank for use in the business. j. Received $12,000 cash and issued stock to a stockholder

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