ASSIGNMENT 1, SEMESTER 2 (continued) 7. Which one of the following options is correct? Account to be debited Account to be credited Bank Capital Bank Transaction (1) The owner, T Tselane, injected more capital into the business by bringing his own motor vehicle worth R200 000 into the entity (2) Purchased office equipment worth R50 000 from L Liboko and paid cash. (3) The business received a donation of R4 500. (4) The owner, T Tselane, took a laptop worth R4 000 from the entity for his own personal use. (5) The owner paid his private insurance account of R350 by electronic funds transfer from his business bank account. Office equipment Donation Bank Laptop Drawings Insurance Bank 8. Dwinkie Traders purchased furniture on credit for R30 000. What will the effect of this transaction be on the accounting equation? (1) Assets will increase and abilities will increase (2) Assets will decrease, and abilities will increase (3) Equity will increase, and assets will increase. (4) Equity will decrease, and liabilities will increase (5) Assets will increase, and equity will decrease. Which one of the following statements is incorrect? (1) Astols increase on the debit side and decrease on the credit side 12) Liabilities increase on the credit side and decrease on the debit side. (3) The equity amount is a computation involving of capital, drawings, income and expenses 14) Income accounts increase on the credit side and decrease on the debit side (5) Expenditure accounts increase on the credit side and decrease on the debit side Which one of the following statements is correct? A posting to the debt side of a ledger account will, where applicable, always have the fot a decrease in the balance of an asset account (2) an increase in the balance of a liability account (3) ang