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Please help with questions 2 and 3 QUESTION 2 25 MARKS Mr. Tendani Rotenda commenced practice as a legal practitioner on 1 January 2018. His

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Please help with questions 2 and 3

QUESTION 2 25 MARKS Mr. Tendani Rotenda commenced practice as a legal practitioner on 1 January 2018. His transactions for the month of February 2018 were as follows: 2018 Feb 2 Paid R20 000 into TEDBank Limited to use for the practice 4 Bought office equipment on credit for R15 000 from master Offices Ltd 5 Bought a Computer for R6 000 and paid cheque 6 Paid rent of R3 000 by cheque 8 Received a deposit of R2 000 from Ms. Colleen in respect of a divorce matter 9 Paid off R7 500 of the furniture account 12 Rendered legal services in respect of a will and charged Mr. Osman R500 15 Rendered legal services to General Ltd and charged a fee of R5 000 17 Received a cheque for R2 500 from General Ltd in part payment of their account 20 Paid R250 with a business cheque to entertain Mr. Tendani This was not in any way connected to the legal practice. MARKS YOU ARE REQUIRED TO: Show in a tabular format the effect on the accounting equation (A = E + L) of each of the following transactions in the books of PMT Attorneys and indicate accounts affected. 25 Equity Examples: 25 Feb Obtained a bank loan from Tedbank amounting to R15 000 27 Feb Purchased stationery on credit amounting to R1 000 Date Account Debited Account Credited Assets 25 Bank Loan +15 000 27 Stationery Trade Payables / Creditors Total +15 000 Liabilities +15 000 +1 000 Marks (1) (1) -1000 +15 000 (1) QUESTION 3 25 MARKS The following transactions have been entered into by KMT attorneys for the month of January 2018 (end of VAT period): 1. Purchased office refreshments using petty cash 114 2. Purchased second-hand computer from a non-vendor with a business cheque 10 260 3. Purchased a new printer on credit 7068 4. Purchased delivery motorcycle on credit 34 200 5. Received payment from clients in respect of fees charges in the previous tax period 28 034

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