l Accountng 67 MANCOSA: BBA YEAR 1 3.2 REQUIRED how the effect of the following transactions of Xpanda Stores on the Accounting equation. Use "+" to denote an increase, "" to denote a decrease and "O" to denote no change to the elements of the equation. Assume that the bank balance is favourable at all times. Follow the example given. Example: Paid for electricity by cheque, R900 No. Assets R900 Equity R900 Liabilities 0 e.g TRANSACTIONS 3.2.1 3.2.2 3.2.3 3.2.4 3.2.5 Purchased stationery on credit from PQ Stationers, R500. Invested R50 000 in a fixed deposit (investment) account at Sen Bank. Interest on credit balance according to the bank statement from Sen Bank amounted to R100. Received a cheque from Sen Bank for a long-term loan that was negotiated, R200 000 A creditor charged Xpanda Stores R50 interest on overdue account. QUESTION 4 rtracted from the accounting records of Jennifer Traders, a part charged m en Bakhbank statement from Sen Bank amounted to 0 charged Xpanda Stores R50 interest on overdue account oed a cheque from Sen Bank for a long-term loan that ace according to the bank statement fro 3.2.5 A creditor Xpa QUESTION 4 busi ue account. (20) iness with Jen and Fern as partners below was extracted from the accounting records of Jennifer Traders, a partnership records REQUIRED Prepare the Statement of Changes in Equity for the year ended 26 Extract from the ledger of lennier Trader a t 28 ebruary 2018 INFORMATION Credit Debit 300 000 200 000 Capital: Jen Capital: Fern Current a/c: Jen (01 March 2017) 10 000 Current a/c: Fern (01 March 2017) Drawings: Jen Drawings: Fern 15 000 250 000 200 000 The following must be taken into account: a) On 28 February 2018, the end of the financial year, the Profit and loss a/c reflected a R600 000. (b) (c) Fern is entitled to a special bonus equal to 10% of the net profit in excess of R400 000 The partners are entitled to the following monthly salaries: Jen Fern The partners are entitled to interest at 15% pa. on their capital balances. Note: R9 000 R8 000 (d) On 01 June 2017 Jen increased her capital balance by R100 000 whilst Fern decreased her capital balance by R100 000. These capital changes have been recorded. he remaining profit/loss must be shared between Jen and Fern in the ratio of the capital balances at the beginning of the financial year. (e) T 67 PROGRAMME HANDBOOK: JULY 2018 INTAKE