HOMEWORK All homework to be completed individually The following transactions took place during the 2020 year for iX Remote (Pty) Ltd: 1. The company bought $100,000 of inventory, of which it sold 80% at a mark-up of 80% in cash. The remainder was unsold at year-end 2. The company paid the following monthly expenses in cash: a. Salaries of $3,000 b. Rent of $1,500 C. Accounting fees of $500 d. Printing and Stationery of $1,000 3. The company borrowed $50,000 on the first day of the year at an interest rate of 5%. At year-end only the interest was paid in cash (no capital was repaid) 4. The company paid a $5,000 dividend at year-end in cash A. Prepare the accounting equation for each of the above transactions B. Using T-accounting, prepare journal entries for each of the above transactions C. What would the company's profit for the year be? D. What would the company's cash position be at year-end? The following transactions took place during the 2020 year for iX Remote (Pty) Ltd: 1. The company bought $100,000 of inventory, of which it sold 80% at a mark-up of 80% in cash. The remainder was unsold at year-end 2. The company paid the following monthly expenses in cash: a. Salaries of $3,000 b. Rent of $1,500 c. Accounting fees of $500 d. Printing and Stationery of $1,000 3. The company borrowed $50,000 on the first day of the year at an interest rate of 5%. At year- end only the interest was paid in cash (no capital was repaid) 4. The company paid a $5,000 dividend at year- end in cash A. Prepare the accounting equation for each of the above transactions B. Using T-accounting, prepare journal entries for each of the above transactions C. What would the company's profit for the year be? D. What would the company's cash position be at 7