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June 1 M Tidey deposited R100 000 into the business bank account. A second-hand vehicle was purchased for R65 000 and paid for by EFT.
June 1 M Tidey deposited R100 000 into the business bank account. A second-hand vehicle was purchased for R65 000 and paid for by EFT. 3 Spotless Services obtained a loan of R80 000 which was deposited direck, into the business bank account by Mula Bank. The loan is payable in full on 31 December 2020. Interest at 8% is payable on 31 May each year. 5 Cleaning equipment was purchased for R23 000 and paid for by EFT. The following items were bought on credit from Equipment Suppliers CC who granted a 60 day account: NB: Tidey decided to have separate ledger accounts for each of the above. 7 Paid rent of R7 000 for the business premises by EFT. 10 Paid R4 200 by EFT for cleaning materials such as detergents and chemicals. 11 Advertisements to the value of R1 200 were paid for in cash. 15 Deposited R13 600 for cleaning services fees provided to clients. C Messy was invoiced for R15 400 for cleaning services fees provided to them onaccount. 18 Paid R1 100 cash for vehicle expenses. 22 Tidey paid R10 000 to Equipment Suppliers CC in part payment of our account with them. 28 Salaries of R13 700 were paid for the month. 29 Received and banked R5 400 from C Messy in part payment of his account. 30 Direct deposits of R16 500 into the bank account for cleaning services provided to clients still needs to be recorded. Required: Prepare a table, as shown below, that will show the effects of the above transactions on the basic accounting equation by using + , brackets and zero. The table must also show which ledger accounts will be debited and which account will be credited. Example: Spotless Services
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