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QUESTION ONE ( 1 0 MARKS ) The following information relates to Daiken Services, a business that repairs and services air conditioners. Analyse the following
QUESTION ONE
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The following information relates to Daiken Services, a business that repairs and services air conditioners. Analyse the following transactions and reflect the effect on the accounting equation.
The owner, Mr Smith deposited R as his capital contribution into the business bank account
Received cash of R for services provided to a client
Paid monthly rates account via EFT, R
Provided services on credit to debtor, A Small, R
Purchased delivery vehicle on credit from Belville Toyota, R
Paid water and electricity account via EFT, R
Received monthly rental from tenant via EFT, R
Purchased stationery on credit from supplier, R
The owner withdrew cash of R from the business bank account for his personal use
Purchased equipment for the business and paid cash, R
Use the following format to present your answers:
tableNoASSETS,OWNERS EQUITY,LIABILITIES
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