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QUESTION 2 ACCOUNTING EQUATION (30 marks, 22 You are the bookkeeper for Wonderland stores. The following tra extracted from their accounting journals. Goods are
QUESTION 2 ACCOUNTING EQUATION (30 marks, 22 You are the bookkeeper for Wonderland stores. The following tra extracted from their accounting journals. Goods are marked up at 60 price. Transactions for May 2020 2. 23 Paid First National Bank R1 500 this was for interest on a loan. Purchased merchandise on credit from Makro Stores, R6 500. 3. Returned equipment to a supplier, Toy Stores, as it was not according 4. 5: 6. placed, R22 000. Paid R20 000 to Nedbank for a fixed deposit for 3 years. The petty cashier used R960. The imprest amount is R1 200. Made an restore the imprest amount. The owner, Vishkar Naidoo, paid water and electricity for his house from business's bank account, R1 200.
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