Question
Moses, a qualified motor mechanic with 22 years of experience, began his own business, Command Vehicle Repairs. On 1 March 2023, Moses withdrew money from
Moses, a qualified motor mechanic with 22 years of experience, began his own business, Command Vehicle Repairs. On 1 March 2023, Moses withdrew money from his Retirement Fund and deposited R80 000 into a business bank account on 9 March 2023. The following transactions for the month of June 2023 need to be recorded as required below:
023 June 2 A rental agreement for premises occupied on1 March 2023 stipulated that the rent for the first three months was R1 000 per month. Thereafter the rent increases to R2 000 per month until 28 February 2024. The June 2023 rent was paid by a direct deposit into the Landlords bank account.
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