Question 4 Marks: 10) Study the table below and answer the question which follow: Accounts Amount R Sales 30 000 Rent expense 6 000 Depreciation 2 000 Refreshments 500 1 500 5500 Insurance expense Salaries Advertising Profit on sale of asset 1 500 3 000 Q.4.1 Required: Calculate profit or loss from the information provided above. Clearly indicate whether a profit or loss was made. (10) (Marks: 15) Question 6 Study the transactions below and answer the questions that follows: 1 2 3 The owner took cash to the bank and deposited it into the business' account. A cheque was used to make a payment for rent for the current month. An EFT payment was made to settle the debts with the supplier. Petty cash was used to make a payment for the minor repairs made on the machinery Inventory was sold to one of the usual customers on credit. 4 5 Q.6.1 (10) Required: Using the format below, identify and name the source document for each transaction above and you must also indicate if the source document is original or duplicate. Example: Inventory were bought on credit from a supplier. No. Source document name Status E.G. Credit invoice Original Q.6.2 Do some online research and discuss a receipt as a source document. Provide (5) references. (Marks: 15) Question 5 You have been provided with the following transactions for February 2020. 1 Machinery was purchased from Bapala manufactures for an amount of R15 000. An EFT payment was used on the same day to pay for the machinery. The entity raised a loan of R30 000 with LMN Bank. Services for R2 000 was rendered to a client. The client paid using his bank 2 3 4 card. Refreshments worth R200 was purchased using the petty cash. Paid water and electricity for the period amounting to R700 via EFT. 5 Q.5.1 Required: Using the format below, show the impact of the above transactions on the accounting equation. Clearly show the account name(s) affected, the amount and the impact (sign) thereto. Example. The owner contributed R10 000 in cash. (15) No. Asset + Liability Equity Capital Ex. Bank +R10 000 +R10 000