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lurux Ly 2- Chapter 5&6 Test Practice Questions 2022-12-07 8:00 AM 2022-12-14 11:59 PM Nine Uinted Matyry.com/dead1327 Question 2 [15 points] Gulf Corp recorded the
lurux Ly 2- Chapter 5&6 Test Practice Questions 2022-12-07 8:00 AM 2022-12-14 11:59 PM Nine Uinted Matyry.com/dead1327 Question 2 [15 points] Gulf Corp recorded the following transactions occurred during the month of December Indicate whether sach transacion would cause an cease(), decrease (-), has not in components of the accounting equation. If a transaction causes a decrease in one component of the accounting equation and also an oase the same component but in affert aunt, sect a) Gulf Corp. purchased equipment for $47,500 borrowing this amount from the bank through a short-term note payable b) Gulf Corp, used credit to purchase $2,600 of equipment c) Susan West (a shareholder), received share capital in Gulf Corp, after investing 545,000 cash and $15.000 worth of supplies in Gulf Corp d) Susan West, a shareholder of Gulf Corp, received share capital ator investing imiture worth $8,000 and a building worth $50,000 into the business. e) Gulf Corp. hired a new employee for $750 bi-weekly. He will begin working next mon g) A client rented equipment for $700 cash Gulf Corp received this month's uttibes bill today and paid it immediately, $450 h) A bill was received today for last week's $500 advertising campaign. It must be paid within 15 days Gulf Corp paid a $1,000 bill received today for an advertising campaign that ran last week. ) Susan West (a shareholder), received share capital in Gulf Corp, after investing $15,000 of supplies into the business k) Gulf Corp. purchased $800 of supples on credit 1) Office salaries for the month were paid today: $2,750, m) Gulf Corp. used $750 cash and $3,000 credit to purchase new equipment worth $3,750 n) Susan West (a shareholder), received share capital in Gulf Corp., after investing $30,000 cash and $56.000 worth of equipment in Gulf Corp o) Gulf Corp. will pay this month's utilities bill of $100 received today, within 30 days AL-E of the SUBMIT AND MARK SAVE AND CLOM 451PM
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