Naledi Traders obtained a loan of R100 000 from the bank and purchased a law library for the full amount. Naledi Traders maintained a favourable bank balance. Prepare the BAE incorporating the information form the above transaction in the table below by indicating the net effect (amount) and the account debited and credited: Instructions for numeric responses: 1. Use a full stop to indicate any decimals (eg: 1000.01) 2. Round off to the second decimal after the full stop (eg: 50.56) 3. When an element decreases, use a negative sign in front of the amount (eg: -1000.01) 4. When an element increases, the amount will be without any sign (eg: 1000.01) 5. Only show the amount, do not show the "R" (eg: 1000) 6. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a zero ("0")
Naledi Traders obtained a loan of R100 000 from the bank and purchased a law library for the full amount. Naledi Traders maintained a favourable bank balance. Prepare the BAE incorporating the information form the above transaction in the table below by indicating the net effect (amount) and the account debited and credited: Instructions for numeric responses: 1. Use a full stop to indicate any decimals (eg: 1000.01) 2. Round off to the second decimal after the full stop (eg: 50.56) 3. When an element decreases, use a negative sign in front of the amount (eg: -1000.01) 4. When an element increases, the amount will be without any sign (eg: 1000.01) 5. Only show the amount, do not show the "R" (eg: 1000) 6. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in a zero ("0")
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Naledi Traders obtained a loan of R100 000 from the bank and purchased a law library for the full
amount. Naledi Traders maintained a favourable bank balance.
Prepare the BAE incorporating the information form the above transaction in the table below by
indicating the net effect (amount) and the account debited and credited:
Instructions for numeric responses:
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Round off to the second decimal after the full stop (eg: 50.56)
3. When an element decreases, use a negative sign in front of the amount (eg: -1000.01)
4. When an element increases, the amount will be without any sign (eg: 1000.01)
5. Only show the amount, do not show the "R" (eg: 1000)
6. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in
a zero ("0")](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1e070310-a532-4094-a2c4-9383171f4c68%2Fbf81dee8-f994-477e-9b49-3e317bad2af1%2Fq7er3yvm_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Naledi Traders obtained a loan of R100 000 from the bank and purchased a law library for the full
amount. Naledi Traders maintained a favourable bank balance.
Prepare the BAE incorporating the information form the above transaction in the table below by
indicating the net effect (amount) and the account debited and credited:
Instructions for numeric responses:
1. Use a full stop to indicate any decimals (eg: 1000.01)
2. Round off to the second decimal after the full stop (eg: 50.56)
3. When an element decreases, use a negative sign in front of the amount (eg: -1000.01)
4. When an element increases, the amount will be without any sign (eg: 1000.01)
5. Only show the amount, do not show the "R" (eg: 1000)
6. If no amount should be recorded in any of the numeric spaces, please indicate it by filling in
a zero ("0")
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