Question
The following transactions occurred during February 2019 in CD Dealers: Owner deposited R5 000 as capital increase. Purchased furniture on credit from Markel Furniture for
The following transactions occurred during February 2019 in CD Dealers:
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Owner deposited R5 000 as capital increase.
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Purchased furniture on credit from Markel Furniture for R1 500.
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Paid R3 000 to creditors on account.
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Purchased a vehicle for cash R20 000.
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Cash received for service rendered, R800.
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Rendered services on credit to a debtor, R300
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Paid salaries, R400.
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Rex Motors repaired a Vehicle on credit, R1 200
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Depreciation of equipment written off, R700.
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Received R600 rent for a storeroom.
You are required to:
Analyse the above-mentioned transactions for CD Dealers for February 2019 In the Accounting Equation by using the following format:
No | Account Debited | Account credited | Assets = | Owner Equity + | Liabilities |
e.g | Bank | Rent income | +120 | +120 | - |
*R120 was received for rent.
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