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QUESTION ONE [25] Wisdom Paine, a qualfied dentist, decided to set up his own practice Paine-free Dentistry. The following are transactions for March 2020, the

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QUESTION ONE [25] Wisdom Paine, a qualfied dentist, decided to set up his own practice Paine-free Dentistry. The following are transactions for March 2020, the first month of business activities. Required: 1.1 Process Paine-free Dentistry's above transactions through a table such as the one shown below: The above example records the very first transaction on 1 March 2020 whereby the owner deposited R100 000 into the business bank account. Use + to indicate an increase; - OR brackets (00) to indicate a decrease and 0 for no effect. Show the effect on both the accounting equation and the effect on specific ledger accounts. (22)

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