MOP 152 JANUARY FEBRUARY 2010 SECTION B SHORT ANSWER QUESTIONS QUESTION 3 20 marks) The assets making up the balance sheet of Truck Rental at March 31, 2009 are listed below in a tabular form Assets Liabilities + Owner's equity Capital stock Trucks Cash Accounts Receivable R 9,500 8,900 Office Notes payable Equipment 3,800 20,000 Accounts payable 5,200 55,000 58,000 After December 31, 2009, truck rental had the following transactions a Bought office furniture at a cost of R 2,700, paid cash N b Collected R 4,000 of accounts receivable As c Paid R 3,200 of accounts payable d Borrowed R10,000 from a bank signed a note payable for that amount e Purchased two trucks for R 30,000 each and signed a note payable for the balance f Sold additional stock to investors for R 40,000 Required: 1 List the December 31 balances of assets, liabilities, and owner's equity in tabular form as shown above (5 marks) 2 Record the effects of the six transactions in the tabular arrangement illustrated above Show the totals for each column after each transaction (15 marks) suppression Dust