For each of the following transactions, indicate the effect on the basic accounting equation (Assets = Liabilities + Shareholders’ Equity):
a. Issuance of shares for cash
b. Purchase of land for cash
c. Sale of services to a customer on credit
d. Receipt of cash from customers as payments on their accounts
e. Payment of cash to shareholders as a distribution of earnings
f. Receipt of a loan from a bank
g. Payment of interest on the bank loan
h. Purchase of inventory on credit
i. Payment of an account payable
j. Payment to a courier company for delivering goods to a customer
k. Payment of an insurance premium to cover the following year
l. Depreciation of equipment