Question: Please answer in proper format , by showing all working clearly QUESTION TWO (30 MARKS) The following transactions during January 2017 relate to F Freddy,

Please answer in proper format , by showing all working clearly

Please answer in proper format , by showing all working clearly QUESTION

QUESTION TWO (30 MARKS) The following transactions during January 2017 relate to F Freddy, an attorney. Date Transactions Amount 2017 R Jan 3 F Freddy deposited as opening capital 20 000 Paid rent for January 2017 2 300 Bought law library on credit from Book Limited 24 000 Bought a typewriter for cash from Leo Limited 1 700 Provided services for cash 7 200 9 Debited D Dunn with fees for services rendered 8 318 10 Leo Limited repaired equipment on credit 100 13 F Freddy drew a cheque for private use 1 234 18 F Freddy received commission on a property transaction 1 350 29 Paid the following by cheque (i) Salaries 8 350 Leo Limited (on account) 100 30 Received payment from D Dunn on his account 1 500 REQUIRED: Record the transactions for F Freddy in the Accounting Equation. Structure your answer as the table provided below (indicate the decrease by minus sign (-) and the increase by plus sign (+)): ASSETS EQUITY LIABILITIES Date Library Debtors Bank Capital Income/ Creditors and Expenditure Equipment Total

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!