Show the effect of the following transections of Errol Supplies on accounting equation using the format...
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Show the effect of the following transections of Errol Supplies on accounting equation using the format provided. Use + if the element increases, - if the element decreases and 0 if the element remains unchanged. Also indicate the amount and the accounts debited and credited. E.g. Errol bought Equipment on credit, R4 000 Assets Equity 0 Transactions 1.1. 1.2. 1.3. 1.4. 1.5. 4 000 Liabilities +4 000 Acc debited Equipment Acc credited Creditors Bought stationery on credit, R350. Bought a photocopying machine by cheque, R135 609. Paid the plant and equipment insurance by cheque, R12 450. A tenant paid the monthly rental to Errol Supplies, R5780. An electronic funds transfer of R5800 was made to a creditor in part settlement of an account of R25 000. Show the effect of the following transections of Errol Supplies on accounting equation using the format provided. Use + if the element increases, - if the element decreases and 0 if the element remains unchanged. Also indicate the amount and the accounts debited and credited. E.g. Errol bought Equipment on credit, R4 000 Assets Equity 0 Transactions 1.1. 1.2. 1.3. 1.4. 1.5. 4 000 Liabilities +4 000 Acc debited Equipment Acc credited Creditors Bought stationery on credit, R350. Bought a photocopying machine by cheque, R135 609. Paid the plant and equipment insurance by cheque, R12 450. A tenant paid the monthly rental to Errol Supplies, R5780. An electronic funds transfer of R5800 was made to a creditor in part settlement of an account of R25 000.
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Financial Accounting A User Perspective
ISBN: 978-0470676608
6th Canadian Edition
Authors: Robert E Hoskin, Maureen R Fizzell, Donald C Cherry
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