Date 1 7 Transaction Details The owner took shoes from the stock for personal use, selling price R 239.40 Paid the Southern Municipal Council the business water and electricity bill by chequ R 342.00 Paid the Icon 24 hour protector the business security services bill by cash, R 500.00 Purchased trading inventory, cost price = R 28 500.00 Cash sales of trading inventory, selling price = R 855.00 13 14 15 NB: The business uses the perpetual inventory method with a mark-up of 50%. Required: Using the example below, analyse the above transactions using the accounting equation and en the name of the general ledger accounts which will be affected (Ignore Vat). Page 4 of 5 Example: Received a capital contribution of R205 000.00 in the form of cash: Date Assets Owner's equity Liabilities