Soccer City Traders sell sports equipment. The business uses the continuous stock system. The mark-up is...

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Soccer City Traders sell sports equipment. The business uses the continuous stock system. The mark-up is 100% on cost price. Use the transactions below to show the influence on the accounting equation in the ANSWER BOOK. Example: Issue cheque for purchases of stationery, R100. Number Source GENENRAL LEDGER E.g. 7.1 TRANSACTIONS: 7.2 7.3 Document Account Account Assets Owner's Liabilities Debit Credit Equity -100 7.4 Cheque counterfoil Stationery Bank Cheque counterfoil: No: 0009 Date: 4 January 2009 To: Telkom For: Telephone Balance This Cheque Balance R C 560 00 -100 0 Issued a debit note to Yahoo Wholesalers for discount omitted on purchase of trading stock, R110. The owner, C. Dee, took trading stock to the value of R800,00 for his personal use. Received an invoice from City Vehicles for the purchase of a delivery vehicle, R70 000,00. (5) (5) (5) (5) Soccer City Traders sell sports equipment. The business uses the continuous stock system. The mark-up is 100% on cost price. Use the transactions below to show the influence on the accounting equation in the ANSWER BOOK. Example: Issue cheque for purchases of stationery, R100. Number Source GENENRAL LEDGER E.g. 7.1 TRANSACTIONS: 7.2 7.3 Document Account Account Assets Owner's Liabilities Debit Credit Equity -100 7.4 Cheque counterfoil Stationery Bank Cheque counterfoil: No: 0009 Date: 4 January 2009 To: Telkom For: Telephone Balance This Cheque Balance R C 560 00 -100 0 Issued a debit note to Yahoo Wholesalers for discount omitted on purchase of trading stock, R110. The owner, C. Dee, took trading stock to the value of R800,00 for his personal use. Received an invoice from City Vehicles for the purchase of a delivery vehicle, R70 000,00. (5) (5) (5) (5)

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Heres how the transactions affect the accounting equation 71 Cheque counterfoil Debit Telephone Expe... View the full answer