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Weber Inc. recorded the following transactions occurred during the month of January. Indicate whether each transaction would cause an increase ( + ) , decrease
Weber Inc. recorded the following transactions occurred during the month of January. 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 = L + E a) Weber Inc. returned to the supplier $7,250 of equipment discovered to be defective. It was originally purchased on account in an earlier transaction. b) Weber Inc. performed consulting services for a customer and received $900. c) Weber Inc. purchased $2,250 of equipment on credit. d) Weber Inc. purchased $400 of supplies on credit. e) Weber Inc. paid $2,000 for equipment purchased today. f) Weber Inc. provided $2,750 of consulting services for a customer who will pay within 30 days. g) Weber Inc. returned $1,500 of defective supplies today that were originally purchased for cash. h) Susan Huang (a shareholder), received share capital in Weber Inc., after investing $35,000 cash and $10,000 worth of supplies in Weber Inc. i) $1,200 of commissions were earned and collected today by Weber Inc. 1) Susan Huang, a shareholder of Weber Inc., received share capital after having transferred to the business a building worth $27,000 and the $4,000 remaining balance of the related short-term note payable. k) Weber Inc. will pay the $1,500 advertising bill received today within 30 days. D) $1,700 of supplies purchased on credit in an earlier transaction were found to be defective. They were returned. m) Office salaries for the month were paid today; $8,500. n) Weber Inc. paid $200 for this month's utilities bill received today. o) $1,600 of furniture purchased on credit in an earlier transaction was found to be damaged. Weber Inc. returned it to the supplierStep by Step Solution
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