Question
The following are miscellaneous transactions for Top Shoe Suppliers for March 2021: Date Transaction Details 1 The owner took shoes from the stock for personal
The following are miscellaneous transactions for Top Shoe Suppliers for March 2021: Date Transaction Details 1 The owner took shoes from the stock for personal use, selling price R 239.40 7 Paid the Southern Municipal Council the business water and electricity bill by cheque, R 342.00 13 Paid the Icon 24 hour protector the business security services bill by cash, R 500.00 14 Purchased trading inventory, cost price = R 28 500.00 15 Cash sales of trading inventory, selling price = R 855.00 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 (Ignore Vat).
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