Question

11:51 Question #1 Shoreside Inc. had the following transactions. Indicate how much the accounts are increased or decreased by each transaction. (Put the amount of the change in the blank. Use a negative (-) sign to show a decrease. Leave the account blank if it is not affected.) B) T A) The Company performs services sev for $10,500 cash. How does this affect pay the Cas the following accounts? Cash Supplies Equipment Accounts Receivable Accounts Payable Notes Payable Common Stock Revenue Rent Expense Dividends Sup Equ Acc Acc Not Com Rev Ren Divi

Answer 1

	Shoreside Inc.
(A)	The Company performs services for $10,500 cash.How does this affects the following accounts
	Cash	$ 10,500.00
	Supplies
	Equipment
	Accounts Receivable
	Accounts Payable
	Notes Payable
	Common Stock
	Revenue	$ 10,500.00
	Rent Expense
	Dividends
	Smart Company
	Income Statement
	Revenue=(A)		$ 10,400.00
	Expenses
	Supplies Expense	$   2,400.00
	Salary Expense	$   2,800.00
	Rent Expense	$   2,300.00
	Total Expenses=(B)		$   7,500.00
	Net Income(A)-(B)		$   2,900.00