Question: 1 4 : 1 7 4 G 4 5 widehat ( ) ) Q . 2 . 1 On 2 March 2 0 2 5
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Q On March Khayelihle Designs completed the following transaction:
Purchase Office Equipment from M Akro Suppliers for R cash.
Based on this transaction, answer the following questions:
Q Identify the accounts to be debited and credited to record this
transaction in the March general ledger of Khayelihle Designs.
Q Classify each of the accounts correctly. That is asset, liability, income
expense, etc., and for assets and liabilities, also specify if it is noncurrent or current.
Q Identify the source document used by Khayelihle Designs to record this
transaction in the cash journals.
Q State the double entries Account Debit; Account Credit for each of the transactions provided below:
Q The tenant paid the monthly rental of R to Khayelihle Designs.
Q Purchased a vehicle for deliveries pay with EFT.
Q Sizwe took R from petty cash to pay for his personal gym account.
Q Bought a printer on credit from W Altons CC for R
Q Sizwe deposited another R as a capital contribution into
Khayelihle Designs' bank account.
Q As Khayelihle Designs expands, Sizwe prioritises accurate financial recordkeeping to support smooth operations.
Identify in each of the following scenarios what source documents Khayelihle Designs would use to record the transaction in the relevant journal and indicate if the document will be an original or duplicate.
Q Sizwe purchases a secondhand wood saw for his furniture business from
a local supplier. He pays via EFT.
Q Sizwe's assistant goes to the bank to deposit the day's sales takings.
Q Purchased reclaimed wood on credit from ReClaimWood.
Q Sizwe's team member goes to the corner shop to get milk for coffee to
be served during a client meeting.
The Independent Institute of Education Pty Ltd
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