Show the effect of the following transactions in the accounting equation. For example: No. Account DR Account CR A = OE + L 1. Furniture Capital + 20 000 + 20 000 0 The owner deposited R 60 000 into business current account as his contribution. Sold goods on credit to F Malila for R 7000 (Cost price R4 500). Business obtained a loan of R30 000 from FCB Bank, the money was transferred to the business current account. Bought stationery on credit, R300. Owner withdrew R400 for personal use.

Show the effect of the following transactions in the accounting equation. For example: No. Account DR Account CR A = OE + L 1. Furniture Capital + 20 000 + 20 000 0 The owner deposited R 60 000 into business current account as his contribution. Sold goods on credit to F Malila for R 7000 (Cost price R4 500). Business obtained a loan of R30 000 from FCB Bank, the money was transferred to the business current account. Bought stationery on credit, R300. Owner withdrew R400 for personal use.

Name: Show the effect of the following transactions in the accounting equati
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Description: Show the effect of the following transactions in the accounting equation.For example:No.Account DRAccount CRA =OE +L1.FurnitureCapital+ 20 000+ 20 0000 The owner deposited R 60 000 into business current account as his contribution.Sold goods on credi

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter3: Journalizing Transactions

Section: Chapter Questions

Problem 3AP

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Refer to the following transactions entered into by TH Traders during the year ended 30 June 2012 and answer the question that follow: Transaction1. The owner deposited R 60 000 into business account as his contribution to the business2. Sold goods on credit to F Meko, R 7 0003. The business obtained a loan of R30 000 from FNB.4. Bought stationery on credit, R3005. Cash sales of goods, R6 500. The goods were bought for R4 0006. Purchased furniture and equipment on credit from FBD Ltd R5 0007. The owner used a business cheque to pay for his personal accounts, R4 0008. Purchased Equipment worth R60 000. R42 000 was paid using cash and the remainder will be paid in 3 months’ time.REQUIRED:Record the above transactions using the Accounting Equation. Use the following format to answer this question: Example: Paid for advertising R300.TRANSACTION ASSETS =EQUITY + LIABILITIES
Refer to the following transactions entered into by TH Traders during the year ended 30 June 2012 and answer the question that follow: Transaction 1. The owner deposited R 60 000 into business account as his contribution to the business 2. Sold goods on credit to F Meko, R 7 000 3. The business obtained a loan of R30 000 from FNB. 4. Bought stationery on credit, R300 5. Cash sales of goods, R6 500. The goods were bought for R4 000 6. Purchased furniture and equipment on credit from FBD Ltd R5 000 7. The owner used a business cheque to pay for his personal accounts, R4 000 8. Purchased Equipment worth R60 000. R42 000 was paid using cash and the remainder will be paid in 3 months’ time. REQUIRED: Record the above transactions using the Accounting Equation. Use the following format to answer this question: Example: Paid for advertising R300. TRANSACTION ASSETS =EQUITY + LIABILITIES Example -300 -300 0
Entity A enters into the following transactions. You are required to show the impact of the transactions below on the accounting equation.1. In an attempt to assist the business, the owner of Entity A deposited R100 000 into the entity’s bank account. A quarter of the amount is payable to the owner and the rest is not.2. A client of Entity A who currently owes the company R23 000, purchased bricks to the value of R45 000 and paid R35 000 to reduce his outstanding balance. Entity A purchased the bricks for R18 000.3. Entity A purchased 1 000 bags of cement from K Ltd on credit. K Ltd normally sells a bag for R45. Entity A received a 10% discount for the 1 000 bags.4. Entity A returned 150 bags of cement, as they were defective. On the same day, the outstanding balance was settled through an online payment. This transaction did not affect the discount offered to Entity A.
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1. Given following information: Paula previous balance Purchase clothing and dining Leisure and entertainment Payment to credit card company i= 2.56% on first RM 1500 i= 1.56% for more than RM 1500 = RM 3 456.20 = RM 276.10 = RM 175.20 = RM 180.50 Calculate Paula previous balance before new charges and payments on the account are made. What is her new balance?
Entity A enters into the following transactions. You are required to show the impact of the transactionsbelow on the accounting equation.1. In an attempt to assist the business, the owner of Entity A deposited R100 000 into the entity’sbank account. A quarter of the amount is payable to the owner and the rest is not.2. A client of Entity A who currently owes the company R23 000, purchased bricks to the value ofR45 000 and paid R35 000 to reduce his outstanding balance. Entity A purchased the bricks forR18 000.3. Entity A purchased 1 000 bags of cement from K Ltd on credit. K Ltd normally sells a bag for R45.Entity A received a 10% discount for the 1 000 bags.4. Entity A returned 150 bags of cement, as they were defective. On the same day, the outstandingbalance was settled through an online payment. This transaction did not affect the discountoffered to Entity A.
Record the following transaction in the appropriate account: Transaction Started business with cash RM50,000 Bought goods by cheque RM10,000 Sold goods on credit to Tok Trading for RM3,000
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