for financial accounting

for financial accounting

REQUIRED For each of the transactions below, state how the accounting equation of PR Repair Services will be affected. Follow the example provided. Assume that the bank balance is always favourable. (5 marks) Example A payment was made to Telkom for the telephone bill of R2 000 . TRANSACTIONS 1.1.1 The proprietor increased her capital contribution by depositing R50 000 cash into the banking account of the business. 1.1.2 A payment was made to Ken Bank for a part repayment of loan, R20 000. 1.1.3 Purchased a laptop on credit, R15 000. 1.1.4 The proprietor took stationery for her personal use, R200. 1.1.5 Received R600 from a debtor who settled his account. 1.2 REQUIRED State the double entries (Account Debit and Account Credit) for each of the following transactions of BG Traders