QUESTION 2: GENERAL JOURNAL AND GENERAL LEDGER (40 Marks: 48 Minutes) Mr Ntini is a newly qualified attorney and has decided to open his own practice. He is planning on running a very successful practice, and before he commenced trading, he registered as a VAT vendor with SARS. He is a very good attorney but needs assistance with his book keeping. In his first month, March 2012, the following transactions took place in his practice: {:[" Transaction "],[" Number "]:} Date Details 1 1 Opened his bank account with a loan of R250 000. 2 1 Paid rental for his new office of R5700 (Including VAT) 3 1 {:[" Purchased office furniture, equipment and computers for R79 "800],[" (including VAT)

QUESTION 2: GENERAL JOURNAL AND GENERAL LEDGER (40 Marks: 48 Minutes) Mr Ntini is a newly qualified attorney and has decided to open his own practice. He is planning on running a very successful practice, and before he commenced trading, he registered as a VAT vendor with SARS. He is a very good attorney but needs assistance with his book keeping. In his first month, March 2012, the following transactions took place in his practice: Note: VAT should be calculated at 14%, where applicable. You are required to: 1. Write up the General Journals to account for the above transactions. (24) 2. Write up and balance the General Ledger accounts for the Bank account and the VAT control accounts only. (16)