Question 3 [15 points] Star Inc. recorded the following transactions during August, 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, seled ( w-) A EL + E a) August 16. Ryan Player, a shareholder of Star Inc., received share capital after having transferred to the business a building worth $11,000 and the $1,000 remaining balance of the related short-term note payable. b) At month-end: A review of the $48,000 unadjusted balance in the supplies account shows a balance on hand at the end of the month of $47 450 c) At month-end: $750 of the insurance policy purchased in advance has expired. d) August 4: A bill was received today for last week's $750 advertising campaign. It must be paid within 15 days e) At month-end: The estimated monthly depreciation on the equipment is $450. 1) At month-end: $6,000 of the rent paid in advance has expired. g) August 19: Star Inc. paid rent in advance; $1,250 h) August 25: Star Inc. used $500 cash and $1,500 credit to purchase new equipment worth $2,000. i) At month-end: $150 of interest has accrued on a note receivable and is unrecorded 1) August 18: Ryan Player (a shareholder), received share capital in Star Inc., after investing equipment and supplies into the business worth $50,000 and $20,000, respectively. k) August 5: Ryan Player (a shareholder), received share capital in Star Inc., after investing $75,000 of equipment into the business 1) At month-end: A review of the $36.000 unadjusted balance in the prepaid insurance account shows a remaining balance of $32,400 at the end of the month m) At month-end: Property taxes of $100 have accrued but are unrecorded n) August 24: Star Inc. returned $1,300 of defective supplies today that were originally purchased for cash o) August 8: Star Inc. bought $900 of supplies paying $200 cash and $700 on account SUBMIT AND MARK