On 1 April, the owner decided to start a laundry business. He withdrew R200 000 from personal savings account and deposited it directly into HI-Lo traders bank account 03 HI-Lo Traders obtained a loan of R30 000 with a repayment period of 12 months from invest Bank account 05 Hi-Lo Traders bought equipment from Blue Furnishers for R16 000. Hi-Lo made a payment of 16 000 directly into Hi-Lo bank account 09 A Cash sale amounting to R45 000 was made, the good were originally purchased at a cost of 35 000 13 Hl-Lo traders bought equipment on credit from Risk Furniture for R9000 15 HI-Lo Traders made a direct payment into the bank account of Risk Furnisher to pay their amount of 9000 18 The owner withdrew 1200 from the business to buy his daughter a birthday present 19 Hl-Lo Traders offered a service worth R5000 to Mr Bogus on credit 27 Hl-Lo Traders placed an advertisement in a local newspaper for R350 Payment was only due in 30 days 30 Mr Bogus settled his account in part, R2500 Required Using the basic accounting equation, the above mentioned transactions as follows: Show the effects of the transaction incurred by HI-Lo Traders during the month of April of 2021 on the basic accounting equation
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01 |
On 1 April, the owner decided to start a laundry business. He withdrew R200 000 from personal savings account and deposited it directly into HI-Lo traders bank account |
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03 |
HI-Lo Traders obtained a loan of R30 000 with a repayment period of 12 months from invest Bank account |
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05 |
Hi-Lo Traders bought equipment from Blue Furnishers for R16 000. Hi-Lo made a payment of 16 000 directly into Hi-Lo bank account |
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09 |
A Cash sale amounting to R45 000 was made, the good were originally purchased at a cost of 35 000 |
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13 |
Hl-Lo traders bought equipment on credit from Risk Furniture for R9000 |
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15 |
HI-Lo Traders made a direct payment into the bank account of Risk Furnisher to pay their amount of 9000 |
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18 |
The owner withdrew 1200 from the business to buy his daughter a birthday present |
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19 |
Hl-Lo Traders offered a service worth R5000 to Mr Bogus on credit |
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27 |
Hl-Lo Traders placed an advertisement in a local newspaper for R350 Payment was only due in 30 days |
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30 |
Mr Bogus settled his account in part, R2500 |
Required
Using the basic
- Show the effects of the transaction incurred by HI-Lo Traders during the month of April of 2021 on the basic accounting equation
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