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Dylex Corporation recorded the following transactions occurred during the month of October. Indicate whether each transaction would cause an increase (+), decrease (- ), or
Dylex Corporation recorded the following transactions occurred during the month of October. 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) Bob Delgado (a shareholder), received share capital in Dylex Land cunnline into th b) Bob Delgado (a shareholder), received share capital in Dylex Corporation, after investing $65,000 of equipment into the business. c) Performed consulting services today and collected $500. d) Dylex Corporation purchased a $38,000 truck by borrowing the amount from the bank through a short-term note payable. e) Dylex Corporation paid $900 for supplies purchased today. f) Dylex Corporation bought equipment on credit for $3,250. g) Paid bi-weekly salaries of $10,750. h) $300 of commissions were earned and collected today by Dylex Corporation. i) Bob Delgado (a shareholder), received share capital in Dylex Corporation, after investing $45,000 cash and $15,000 worth of supplies in Dylex Corporation. j) Dylex Corporation bought $700 of supplies paying $100 cash and $600 on account. k) Bob Delgado (a shareholder), received share capital in Dylex Corporation, after investing $35,000 of supplies into the business. 1) Dylex Corporation provided $1,250 of consulting services for a customer who will pay within 30 days. m) Furniture was rented by a customer for $1,400 cash. n) Dylex Corporation purchased new equipment by paying $1,000 cash. o) Dylex Corporation will pay this month's utilities bill of $350 received today, within 30 days. A = L + E
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