1: The accounting equation and Question 2: Calculating cost of sales and margins TOTAL 3. Questions Complete Questions 1 and 2 in this document. Make sure you have read Modules 1 and 2 before completing this assignment. Note: Make sure that you show all your workings within the assignment when calculations are required. If full workings are not shown, full marks will not be awarded. Day 1 4 6 8 Question 1 Smart Traders, is owned by Avanti Beharrie, opened its doors on 1 January 2019. The following transactions by the business took place during the first month of trading (ignore any VAT implications). 11 11 15 18 20 24 27 29 20 Details The owner deposited R30 000 cash into the business bank account. Withdrew R4 500 from the business account for petty cash. 50 Purchased an initial range of inventory for R20 000, and paid for the goods by EFT. Bought a cash register and display shelves on credit for R4 800, less 10% trade discount. Tel: +27 21 447 7565 | Fax: +27 21 447 8344 Website: www.getsmarter.com/ Email: info@getsmarter.com Bought an advert in an online marketplace, and paid R600 by EFT. Sold inventory to Mr Smith on credit for R5 600. The original cost of these goods was R3 570.