b) Show how the following transactions for August 2020 will reflect in the ledger accounts of Lead Traders Purchased a computer for the office an account for R 4000 Paid rates and taxes amounting to R2 300 cash. Received interest of R5 000. (9 marks) ANNEXURE E : FORMATIVE ASSESSMENT 1 4 7 QUESTION 3 (35 MARKS) a) You have been presented with the following information for Lead Traders that transpired during the month of August 2020. Date Transaction 1 The owner contributed an amount of R120 000 cash, as well as a building valued at R145 000 to the business. Lead Traders purchased trading inventory for R 65 000 on account from Prime Lender Suppliers The insurance premium of R 15 000 was paid through the electronic funds transfer (EFT). A cash sale amounting to R 52 000 was made, the goods were originally purchased at a cost of R 47 000. 14 Lead Traders settled their account with Prime Lender Suppliers in full by cash. Sold goods on account to a customer, Mr. Focus for R 24 300. The goods were originally purchased at a cost of R 18 500 Purchased trading inventory amounting to R 34 000 for cash. Purchased land in cash amounting to R 400 000 Made electronic payments for the workers' salaries and wages amounting to R23 000 Received a payment of R 21 300 from Mr. Focus, a debtor. 9 15 18 26 27 29 Show the effects of the transactions incurred by Lead Traders during the month of August 2020 on the accounting equation. Clearly indicate which account needs to be debited or credited. Ignore VAT and use the below table format in your answer. (26 Marks) 54 HAP1181-JUL-DEC2020-FAI-GT-13-08052020 Show the effects of the transactions incurred by Lead Traders during the month of August 2020 on the accounting equation. Clearly indicate which account needs to be debited or credited. Ignore VAT and use the below table format in your answer. (26 Marks) 54 HLAP1181-JUL-DEC2020-FAI-GT-V3-04052020 ANNEXURE E: FORMATIVE ASSESSMENT 1 Example: Paid for repairs and maintenance amounting to R23 000 cash. Date Account Debited Account Assets - Equity Liabilities Credited Repairs and -R 23 0001 maintenancev Bank -R 23 000 09 b) Show how the following transactions for August 2020 will reflect in the ledger accounts of Lead Traders Purchased a computer for the office on account for R 4 000 Paid rates and taxes amounting to R2 300 cash. it. Received interest of R5 000. (9 marks)