4 [15 points] Gulf Corp. recorded the following transactions during December, as well as some items requiring adjusting transactions at month-end. Indicate whether each transaction or adjusting entry would cause an increase +), decrease (-), or has no effect (NE) on each of the components of the accounting equation. If a transaction causes a decrease in one component of the accounting equation and also an increase in the same component but in a different account, select (+/-). a) At month-end Of the $54,000 rent paid to Gulf Corp. in advance, $52,750 has not yet been eamed b) December 2. Jan Taylor (a shareholder), received share capital in Gulf Corp., after investing $75,000 of supplies into the business c) At month-end: The monthly depreciation on the equipment is $90 d) December 10: Jan Taylor, a shareholder of Gulf Corp, received share capital after investing fumiture worth $12,000 and a building worth $72,000 into the business e) December 17: Gulf Corp. used $100 cash and 5400 credit to purchase $500 of supplies At month-end $1,500 of the rent paid in advance has expired g) December 21 Gulf Corp received $800 towards payment for the services provided in an earlier transaction h) December 18: Gulf Corp has received $8,100 as advance payment for consulting services ) December 7: Jan Taylor (a shareholder), received share capital in Gulf Corp, after investing equipment and supplies into the business worth $55,000 and $20,000, respectively k) December 21: Gulf Corp. paid $1,000 for equipment purchased today At month-end: Gulf Corp ronts part of its building for a monthly foo of $1,250. The rent for the month just past has not been received ) December 14: Guff Corp. colected $500 for a building to be rented in two months m) December 14. Gulf Corp purchased equipment for $26,500, borrowing this amount from the bank through a short-tenn note payable n) Al month-end: Accrued salaries of $9,000 were not recorded at month-end o) December 23. Gulf Corp. received this month's utilities bill today and paid it immediately, $250 Time Remaining: 80.10 A LE SUBMIT AND MARK AM QUA 19C