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use only + or - sign Question 2 [15 points] Global Filter Corp. recorded the following transactions occurred during the month of April. Indicate whether
use only + or - sign
Question 2 [15 points] Global Filter Corp. recorded the following transactions occurred during the month of April. 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 (+/-). g ou HB A = L + E or t osts a) Frank Levens, a shareholder of Global Filter Corp., received share capital after investing furniture worth $11,000 and a building worth $64,000 into the business. ceiv b) Global Filter Corp. purchased $4,000 of equipment on credit. Asse c) Global Filter Corp. paid $100 towards the bill from an earlier transaction. Lon d) Performed consulting services today and collected $400. ancin e) Global Filter Corp. provided $3,500 of consulting services for a customer who will pay within 30 days. of Ca Statel f) Frank Levens (a shareholder), received share capital in Global Filter Corp., after investing $30,000 cash and $45,000 worth of equipment in Global Filter Corp. rships g) $1,600 of supplies purchased on credit in an earlier transaction were found to be defective. They were returned. Sheet h) Global Filter Corp. returned $1,400 of defective supplies today that were originally purchased for cash. i) Collected $800 regarding a credit customer's account. j) Global Filter Corp. purchased $800 of supplies on credit. k) Frank Levens (a shareholder), received share capital in Global Filter Corp., after investing $25,000 cash and $10,000 worth of supplies in Global Filter Corp. 1) Global Filter Corp. purchased supplies by paying $400 cash. m) Global Filter Corp. returned to the supplier $8,500 of equipment discovered to be defective. It was originally purchased on account in an earlier transaction. n) Global Filter Corp. collected $600 for commissions earned today. o) Frank Levens (a shareholder), received share capital in Global Filter Corp., after investing $20,000 of equipment into the business. SAVE AND CLOSE SUBMIT AND MARK Official Time: 19:06:27 WStep by Step Solution
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