Activity 1SPIP activity18/01/2022Required:Show the effect of each transaction on the accounting equation. In each case provideamount, effect and reason.Example: Bought new register and pay via EFT, R6000ASSETSOWNER'S EQUITYEffectReasonEffectReason+6000Equipment increases-6000Bank decreasesTransactions:1. Paid the telephone account by debit card at Pick 'n Pay, R450.2. Received R3000 for services rendered.3. Paid the owner's TV licence through EFT, R280.4. Received R2000 from tenants renting office.acoun6 byPeasonGanigament+450

Name: Activity 1SPIP activity18/01/2022Required:Show the effect of each tra
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Description: Activity 1SPIP activity18/01/2022Required:Show the effect of each transaction on the accounting equation. In each case provideamount, effect and reason.Example: Bought new register and pay via EFT, R6000ASSETSOWNER'S EQUITYEffectReasonEffectReason+6

As per Accounting equation, Assets =Liabilities +Owner's equity

Business

Accounting

Activity 1 SPIP activity Required: Show the effect of each transaction on the accounting equation. In each case provid amount, effect and reason. Example: Bought new register and pay via EFT, R6000 ASSETS OWNER'S EQUITY Effect Reason Effect Reason Equipment increases Bank decreases +6000 -6000 Transactions: 1. Paid the telephone account by debit card at Pick 'n Pay, R450. 2. Received R3000 for services rendered. 3. Paid the owner's TV licence through EFT, R280. 4. Received R2000 from tenants renting office.

Activity 1 SPIP activity Required: Show the effect of each transaction on the accounting equation. In each case provid amount, effect and reason. Example: Bought new register and pay via EFT, R6000 ASSETS OWNER'S EQUITY Effect Reason Effect Reason Equipment increases Bank decreases +6000 -6000 Transactions: 1. Paid the telephone account by debit card at Pick 'n Pay, R450. 2. Received R3000 for services rendered. 3. Paid the owner's TV licence through EFT, R280. 4. Received R2000 from tenants renting office.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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MUMassD Logor X E Quicklaunch - x K. myCourses Da: X Se Univ of Mass - X Ceng g In | Federa x ducation.com Saved mework View transaction list Journal entry worksheet 1 3 4 8 9 10 Provided $57,971 in service to customers during the year, with $21,658 on account and the rest received in cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 0 日 search