The following transactions were undertaken by Massenburg Personnel Services during the month of February 2016. Ignore GST.

1.    Invoiced a client for providing advice on current employment legislation, $2400. 

2.    Paid salaries to staff, $3600.

3.    Paid an annual subscription for access to an online data base of employment legislation until the end of January 2017.

4.    Received $6000 from a client for employing staff for them in January.

5.    M. Massenburg invested a further $20 000 additional capital into the business to ensure it has sufficient cash to continue operations.

6.    Purchased new office furniture and equipment on credit for $12 500.

7.    Invoiced a client for $7000 for providing advice regarding an industrial dispute they had with their employees.

8.    Paid $720 electricity account the day the account was received.

9.    Paid the firm’s lawyers for an account received from them in December for receiving legal advice, $7100.

10.    Paid for the equipment purchased in (6).

11.    M. Massenburg withdrew $1200 from the business bank account for personal use.

Required

Indicate with the appropriate letter whether each of the transactions resulted in:

(a) An increase in assets and a decrease in assets

(b) An increase in assets and an increase in liabilities

(c) An increase in assets and an increase in equity

(d) A decrease in assets and a decrease in liabilities

(e) A decrease in assets and a decrease in equity

(f) An increase in liabilities and a decrease in equity

(g) An increase in equity and a decrease in liabilities.