QUESTION ONE The following transactions during January 2018 relate to County Traders Amount Date (R) January Details 500 Paid for rental of equipment 24 000 Purchased a vehicle on credit from Sevenoaks. 2 000 Received partial payment from debtor, Kent 1 200 The owner pays with a business cheque for personal expenses 800 Withdraws money for personal use 12 000 10 Paid creditors 12 Rendered services on credit to Surrey. 4 000 15 Issued a credit note to Surrey for unsatisfactory services. 200 Cashed cheque 111 for: Telephone 150 Wages for the month 900 Required: Show the effect of the above transactions of R Red on the accounting equation. Use "+" to denote an increase, "-" to denote a decrease and "0" to denote no change to the elements of the equation. Present the above transactions in the following format: No. Acc debit Acc credit Assets = Equity + Liabilities e.g Bank Sales +200 +200 O QUESTION TWO [30] Inventories of Waka Traders amounted to R6 000 on 01 January 2018. Transactions during 2018 year were as follows: R Credit purchases 10 000 Returns out 1 000 Credit sales 20 000Required: 2.1 . According to the periodic inventory system, if the closing inventories on 31 December 2018 amounted to R3 000: 2.1.1 Journalise the transactions for 2018. (6) 2.1.2 Prepare the trading statement for the year ended 31 December 2018. (9) 2.2. According to the perpetual inventory system, if the gross profit percentage on sales in 30%: 2.2.1 Journalise the transactions for 2018. (6) 2.2.2 Prepare the trading statement for the year ended 31 December 2018. (9) QUESTION THREE (20]