lucux Chapter 5&6 Test Practice Questions 2022-12-01 8:00 AM 490 2022/12-14 11:59 PM Bole Nine Matyry.com/blenderd Question 2 [15 points] Gulf Corp recorded the following transactions occurred during the month of December indicate whether sach transaction would cause an morease(), decreme(-), or has not N components of the accounting equation. If a transaction causes a decrease in one component of the accounting equation and also an nosaset the same component but in art art st of the LLE a) Gulf Corp. purchased equipment for $47,500 borrowing this amount from the bark through a short-term not payable b) Gulf Corp, used credit to purchase $2.500 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 after investing limitare 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 mone A client rented equipment for $700 cash a) Gulf Corp received this month's uttides bil 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 i) Susan West (a shareholder), received share capital in Gul Corp, after investing $15,000 of supplies into the business K) Gulf Corp purchased $800 of supples on credit 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 SAVE AND CLOSE 4 SUBMIT AND MARK 44 XHEY