Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION FOUR [25] The following are miscellaneous transactions for Top Shoe Suppliers for March 2021: Date17131415TransactionDetailsTheownertookshoesfromthestockforpersonaluse,sellingpriceR239.40PaidtheSouthernMunicipalCouncilthebusinesswaterandelectricitybillbycheque,R342.00PaidtheIcon24hourprotectorthebusinesssecurityservicesbillbycash,R500.00Purchasedtradinginventory,costprice=R28500.00Cashsalesoftradinginventory,sellingprice=R855.00 NB: The business uses the perpetual inventory method with

image text in transcribed

QUESTION FOUR [25] The following are miscellaneous transactions for Top Shoe Suppliers for March 2021: Date17131415TransactionDetailsTheownertookshoesfromthestockforpersonaluse,sellingpriceR239.40PaidtheSouthernMunicipalCouncilthebusinesswaterandelectricitybillbycheque,R342.00PaidtheIcon24hourprotectorthebusinesssecurityservicesbillbycash,R500.00Purchasedtradinginventory,costprice=R28500.00Cashsalesoftradinginventory,sellingprice=R855.00 NB: The business uses the perpetual inventory method with a mark-up of 50%. Required: Using the example below, analyse the above transactions using the accounting equation and enter the name of the general ledger accounts which will be affected (lgnore Vat). Page 4 of 5 Example: Received a capital contribution of R 205000.00 in the form of cash

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Finance And Financial Intermediation

Authors: Harold L. Cole

1st Edition

0190941707, 978-0190941703

More Books

Students also viewed these Finance questions