NMENTI) 2021 FIRST SEMESTER ACCIO ACCOUNTING 1. 2. iestion 1 [35] Ms L Recluse decided to open a bric-a-brac store in Johannesburg. The following transactions took place during January 2021 for Black Widow Designs: The owner, Ms Recluse, deposited R65 250 as a capital contribution. Purchased inventory on credit from Wolf Traders, R48 255. Deposited cash sales for the first week, R6 820. Inventory is marked up at 55% on cost. Purchased equipment on credit from Spider Manufacturers, R21 750. 5. Paid the first month's rent, R7 500, as well as a deposit of R15 000 to RCI Investments. 3. 4. HABE 6. Sold inventory on credit to R Feru, R10 075. Inventory is marked up at 55% on cost. 7. 8. Paid the first instalment due to Spider Manufacturers, R12 250. Received the telephone account for January 2021, R1 680. This account was only paid in February 2021. Received payment from R Feru on his account, R5 000. 9. Required: Enter the above transactions in the accounting equation below, applying the duality concept. Example: Issued cheque 281 to Metro Cash and Carry for inventory. General Ledger No. Assets Owner's equity Liabilities Account Dr Account Cr E.g. Trading stock Bank +1 520 ACCOUNTING ACC101 ASSIGNMENT ANSWER BOOK FOR FIRST SEMESTER 2021 Question [35] HABAS No. General Ledger Account Dr Assets Owner's equity Liabilities Account Cr E.g. Trading stock Bank +1 520 1. 2. 3. 4. 5. 6. 7. 8. 9