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Callaho Inc. recorded the following transactions occurred during the month of June. Indicate whether each transaction would cause an increase (+), decrease (-), or has
Callaho Inc. recorded the following transactions occurred during the month of June. Indicate whether each transaction 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) Office salaries for the month were paid today: $15,000 b) Callaho Inc. returned $2,000 of defective supplies today that were originally purchased for cash c) $1,500 of supplies purchased on credit in an earlier transaction were found to be defective. They were returned. d) Callaho Inc. returned to the supplier $3,750 of equipment discovered to be defective. It was originally purchased on account in an earlier transaction e) Caliaho Inc. provided $2,750 of consulting services for a customer who will pay within 30 days f) Dallas Glynn (a shareholder), received share capital in Callaho Inc., after investing $95,000 cash into the business g) The bill for the $1,750 advertising campaign that ran last week was received today and paid h) Callaho Inc. used credit to purchase $800 of supplies Callaho Inc. performed consulting services for a customer and received $700 The $1,500 bill for the advertising campaign that ran last week was received today, it will be paid within 30 days k) Callaho Inc, will pay this month's unites bill of $200 received today, within 30 days. 1) Callaho Inc. paid $2,000 for equipment purchased today m) Dallas Glynn (a shareholder), received share capital in Callaho inc, after investing $10,000 cash and $15.000 worth of equipment in Callaho Inc n) Callaho Inc. bought $3,500 of equipment, using $750 cash and $2.750 on account o) Callaho Inc. received this month's usites bill today and paid it immediately $400 ACL
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