Courtland Corp. recorded the following transactions during November, as well as some items requiring adjusting transactions...

 

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Courtland Corp. recorded the following transactions during November, 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, select ( +/-) a) November 6. Bert Zimm (a shareholder), received share capital in Courtland Corp, after investing $45,000 of equipment into the business b) At month-end $1,000 of the advertising paid for in advance has been published by the newspaper c) November 23. Courtland Corp rented buildings to a client and collected $5,750 in advance d) At month-end. Unpaid and unrecorded salaries at month-end totalled $4,000 e) At month-end. The estimated monthly depreciation on the building is $210. 5) At month-end $4,300 of the television advertising paid for in advance has been used 9) November 22 Courtland Corp. collected $300 for commissions earned today h) At month-end $390 of interest has accrued on a note receivable and is unrecorded 1) November 12 Courtland Corp collected $2.950 from a customer for work to be done in six weeks 1) November 23. Furniture was rented by a customer for $1.100 cash k) November 6. Bert Zimm, a shareholder of Courtland Corp, received share capital after having transferred to the business a building worth $89.000 and the $13.000 remaining balance of the related short-term note payable 1) November 6. Courtland Corp purchased $1.250 of equipment on credit m) November 17 Courtland Corp has received $8,900 as advance payment for consulting services n) At month-end $2.000 of the rent paid in advance has expired o) At month-end $2.500 of the insurance policy purchased in advance has expired ALE Courtland Corp. recorded the following transactions during November, 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, select ( +/-) a) November 6. Bert Zimm (a shareholder), received share capital in Courtland Corp, after investing $45,000 of equipment into the business b) At month-end $1,000 of the advertising paid for in advance has been published by the newspaper c) November 23. Courtland Corp rented buildings to a client and collected $5,750 in advance d) At month-end. Unpaid and unrecorded salaries at month-end totalled $4,000 e) At month-end. The estimated monthly depreciation on the building is $210. 5) At month-end $4,300 of the television advertising paid for in advance has been used 9) November 22 Courtland Corp. collected $300 for commissions earned today h) At month-end $390 of interest has accrued on a note receivable and is unrecorded 1) November 12 Courtland Corp collected $2.950 from a customer for work to be done in six weeks 1) November 23. Furniture was rented by a customer for $1.100 cash k) November 6. Bert Zimm, a shareholder of Courtland Corp, received share capital after having transferred to the business a building worth $89.000 and the $13.000 remaining balance of the related short-term note payable 1) November 6. Courtland Corp purchased $1.250 of equipment on credit m) November 17 Courtland Corp has received $8,900 as advance payment for consulting services n) At month-end $2.000 of the rent paid in advance has expired o) At month-end $2.500 of the insurance policy purchased in advance has expired ALE