Activity 4 The accounting equation#Analyse the following transactions using the basic accountingSmith owns a small business that sells vuvulezas to sports fans.Ma buys them at R10 each and sells them for R25.Purchased 100 vuvuzelas and paid cash for them.Sold 40 at a soccer match at the local stadium.Some tourists bought 10 units from Peter.A Paid R200 for petrol for the business car.Sold 30 units but he only managed to get R20 each.Placed an advertisement in the local paper at a cost of R125., Analyse the following transactions using the basic accountingequation.Nkosi Kwando owns a small spaza store and she marks up all her goodby 50%.a Buys R2 500 of trading stock from Makro and pays with a cheque.b Issues a cheque for R1 200 for a new printer.c Sold some stock for R750 (Cost price- R500).d Received R5 000 from the bank as a loan.e Purchased more stock for cash - R3 500.f Good sales led to receiving R3 000 from cash sales.g Stock with a cost price of R600 were sold.h The tenant paid the rent of R375.

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Answered: He buys them at R10 each and sells them…

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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