Appendix A Answer ALL questions. Question 1 (58 marks) After losing his job as a manager, Tom decided to start a courier business to do delivery using his motor van. For each of the following transactions, write the account and amount to be debited and credited. (a) Tom invests $20,000 into his new business and a business bank account is opened. (b) Tom contributed his personal motor van which costs $29,200 for business use. (c) Tom completed his first delivery service and collected $463 cash from Lee. He deposited the cash received immediately into the business bank account. (d) Bought a computer and printer from Techno Ltd to print invoices. The computer costs $4,800 and the printer costs $1,300. A cheque of $3,000 is issued to make part payment, the remainder to be paid by the end of the month. (e) Tom completed his second delivery service and billed client David for $2,210. (1) Withdrew $500 from the bank to keep as cash on hand. (g) Tom realised that he has overcharged David $200 for the delivery service and sent him a note to inform him accordingly. (h) To expand his business, he decided to apply for a 10-year loan of $20,000 from the bank. The bank approves the loan and sends him a cheque. (0) With the money from the loan, he decided to give his wife a surprise and bought her a diamond ring with a business cheque of $1,950. 0) He also paid $230 cash to his office cleaning lady. (k) Issued a personal cheque to pay amount owing to Techno Ltd. (1) Paid interest on bank loan $200 by cash. (m) Collected cash from David for amount owed. (n) Banked in all cash