QUESTION 1: ACCOUNTING EQUATION Study the following two transactions and complete the table: Goods bought by cheque from Macro Wholesalers, R22 000. Cash sales of merchandise, R40 000. (Mark-up is 60%) 1. 2. Accounting equation Owners' General ledger No. Account debited Account credited Assets Liabilit equity 1. Bank + 40 000 2. Trading inventory OR Trading Stock

QUESTION 1: ACCOUNTING EQUATION Study the following two transactions and complete the table: Goods bought by cheque from Macro Wholesalers, R22 000. Cash sales of merchandise, R40 000. (Mark-up is 60%) 1. 2. Accounting equation Owners' General ledger No. Account debited Account credited Assets Liabilit equity 1. Bank + 40 000 2. Trading inventory OR Trading Stock

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

Problem 4SEB: FINANCIAL RATIOS Based on the financial statements, shown on pages 605606, for McDonald Carpeting...

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