Part 2 Question 1: JJ decided to start a business that he runs as a sole proprietor. The following transactions took place in his first month of trading: 1 April Capital of 80,000 was introduced by JJ. 75,000 was paid into the bank and 5,000 was kept as cash in hand 6 April Goods were purchased for 12,000 and paid by cheque 7 April JJ purchases goods worth 2,000 on credit from Tooley 7 April Sales of 16,000 were made to Mooney on credit 9 April Rent was paid at the cost of 2,800 by cheque 14 April Computers and other office equipment were purchased for 40,000 by cheque 18 April JJ paid his niece's nursery school tuition costing 2,000 from the business bank account 20 April Mooney returns goods worth 200 20 April Tooley offered JJ a 5% cash discount if payment is made within 7 days 23 April JJ returns goods which he had originally bought for 320 by cheque 26 April JJ withdraws 3,600 cash from the bank 26 April JJ pays Tooley account by cheque. Required: 1) Journalise the entries 2) Indicate their effects (upt, downV, no effect on the accounting equation 3) Post each transaction in the appropriate T-accounts & compute the balances in each of the T-accounts 4) Use the amounts in the T-account balances to advice JJ in an email format about the financial state of his business. Part 1 nm Q Search in Document ASUS = Home Insert Draw Design Layout References Mailings Review View 2+ Share Calibri - 12 A- A A 42 E. + T ABCDE A2BBCCDEC No Spacing AaBbCcDc Abccdet AaBb Aabbcode ABCODES Subte Emph ABCODES Emphasis Pasta B 1 U abe Xxx A. te Noms Heading 1 Heading 2 Trie Subtitle Styles Pane 1) You recently for an intership and for your first task, you have been asked to respond to Elinit's email cosing the unit family in the meaning of earning 21 characterit of accounting information and 3) the relevance of the regulatory s.thority that viser fra 21 Yeur elkage prepared a financial statement in tris statement the city of the owner was shown next to the labres. The used the re, we around my quity major asset and shoud be shown as an asset on the statement of financial position". In your own word, write in esta forma esplaining this misunderstanding to the owne Part 2 Question 1: cucided to start a business that herursas sarurilor. The following transactions took place in his first marchef trudi: 1 April Capital of 850,000 was introduced by J. E75,000 was paid into the bank and 55.000 was keptas hind 6 April Goock were purchased for E12.000 and paid by checue 7 April 1. purchases Roods worth E2,000 on credit from Tooky 7 April Sales of E15.000 were made to Mooney on credit 9 April Rent was paid at the cost of E2.500 by cheque 14 Molto-puters and other of ce equipment were purchased for 190,000 by cheque 18 April pred his niece's nursery school tuition costing 12.000 from the business and account 20 Apr Moorey returns poods worth 200 20 April Tockey altered II 25 cash discount payment is made within 7 days 23 April I returns goods which he had originally bought for E320 by cheque 26 April Jw theraws 3,600 cash from the bank 25 April 1) pays Toolsy account by cheque. Required 1) lournaise the entries 21 Indicate their effects of down, no cffccn the accounting custion al Pasteachtration in the appropriate counts compute the balances in path of the comes 4 Use the amounts in the contestatie in an email formal about the Annril state of his Page 1 of 2 347 words CE English (United Kingdom Focus 3 B6%