Question Q1 Using the table provided below, identify the accounts affected and the effect of each of the following transactions on the accounting equation: Note: the first one has been done as an example for you. Example: The business paid for electricity, R3 000. 1. The owner contributed an additional amount into the business by making a transfer from his personal bank account to the business bank account, R20 000. 2. The company placed advertising in the local newspaper without paying immediately; a credit invoice was promptly issued to the company, R6 000. 3. The company sold goods to a customer on credit, R9 000. 4. The company took out a bank loan, which will be repaid over 24 months at 10% per annum, R20 000. 5. In transaction 3, the customer paid an amount owing after receiving a 5% settlement discount (record only the transaction relating to the amount settled). Note: you have to put a plus (+) or minus sign (-) in front of each amount on the accounting equation.

No.	Accounts affected	Effect on the accounting equation
		Assets	Owners equity	Liabilities
Example	Electricity, Bank	-R3 000	-R3 000
1.1
1.2
1.3
1.4
1.5