Paid rent of R2 450 for the month of May 2021. Bought consumables during the month for R9 600 on credit. All example 1 consumables are purchased for immediate use. Took a loan of R50 000 from his uncle Spanner Hardman. The loan bears interest at 9% per year payable monthly. The loan capital is payable in two 2 equal annual instalments, the first of which is payable on 31 May 2022. | Chris purchased electronic diagnostic equipment that had a marked price of R40 000 with a 10% cash discount offered. Chris paid cash for the 3 equipment which he put to use immediately. Services fees for the month were as follows: • Cash deposited into the bank account R32 400. · On credit to businesses given 30 day accounts: R17 300. 4. Paid monthly interest on the loan taken from Spanner Hardman. Refer transaction 2 above. Transferred payment to settle the creditor's account – Refer transaction 1. A 5% settlement discount was received. Eequired: .1 Prepare an accounting equation as the one illustrated below. Process the above

Paid rent of R2 450 for the month of May 2021. Bought consumables during the month for R9 600 on credit. All example 1 consumables are purchased for immediate use. Took a loan of R50 000 from his uncle Spanner Hardman. The loan bears interest at 9% per year payable monthly. The loan capital is payable in two 2 equal annual instalments, the first of which is payable on 31 May 2022. | Chris purchased electronic diagnostic equipment that had a marked price of R40 000 with a 10% cash discount offered. Chris paid cash for the 3 equipment which he put to use immediately. Services fees for the month were as follows: • Cash deposited into the bank account R32 400. · On credit to businesses given 30 day accounts: R17 300. 4. Paid monthly interest on the loan taken from Spanner Hardman. Refer transaction 2 above. Transferred payment to settle the creditor's account – Refer transaction 1. A 5% settlement discount was received. Eequired: .1 Prepare an accounting equation as the one illustrated below. Process the above

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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