2 ACCOUNTING EQUATION (30 marks, 22 minutes) You are the bookkeeper for Wonderland stores. The following transactions were extracted from their accounting journals. Goods are marked up at 60% on the cost price. Transactions for May 2020 1. Paid First National Bank R1 500 this was for interest on a loan. 2. 3. 4. 5. 6. Purchased merchandise on credit from Makro Stores, R6 500. Returned equipment to a supplier, Toy Stores, as it was not according to the order placed, R22 000. Paid R20 000 to Nedbank for a fixed deposit for 3 years. The petty cashier used R960. The imprest amount is R1 200. Made an EFT to restore the imprest amount. The owner, Vishkar Naidoo, paid water and electricity for his house from the business's bank account, R1 200. QUESTION 2 ACCOUNTING EQUATION (30 marks:22 minutes) Refer to the information regarding Wonderland Stores. REQUIRED: Analyse the transactions of Wonderland Toys and show the effect on the Accounting Equation by completing the table provided. EXAMPLE: Bought Stationery and paid by EFT, R350. GENERAL LEDGER No. Journal Account Debit Account Credit A Eg. CPJ Stationery Bank R350 R350 0