SECTION A Answer ALL questions in this section. QUESTION 1 1.1 INFORMATION Example A payment was made for electricity, R2 500. Assets Decrease by R2 500 REQUIRED Indicate how the accounting equation of JK Services will be affected for the transactions provided below. The answer must include the amount and must denote Decrease, Increase or No change. Follow the example provided. Assume that the bank balance is always favourable. (10 marks) Transactions of JK Services 1. Purchased equipment by means of an electronic funds transfer (EFT), R10 000 2. 3. 4. 5. 6. 7. 8. Equity Decrease by R2 500 9. 10. [100 MARKS] Liabilities No change (20 Marks) The bank credited the account of JK Services for interest on the current banking account, R100. Purchased an office desk on credit, R2 000. The proprietor increased her capital contribution by means of an EFT from R200 000 to R275 000. Cash received for services rendered amounted to R4 000. Services rendered on credit to clients totalled R3 000. The proprietor took office stationery for her personal use, R200. Received R700 cash from a debtor in settlement of her account. Received an account for the repairs made to the office printer, R750. Paid wages to the employees, R5 000.