Unit $8$ Topic $11$

Activity $11\mathrm{.}11$ Think about cash transactions and the Accounting Equation

Dennis' Dance strudio had the following transactions. Record the transactions in

the table below:

$1$ Dennis increased his capital by $20\%.$ He already had R$200000$ invested in the

Transactions

$2$ The dance studio is rented from Kenny Properties for R$60000$ per annum. business. The rent for March and April were paid by cheque.

$3$ Paid the water and electricity account of R$720$ to the municipality.

$4$ Bought new costumes for the studio. Issued a cheque for R$2500$ to Vanity

$5$ Received interest of R$56$ on the business' bank account from Norms Bank. Fair.

$6$ A direct deposit of R$1300$ was made by Tracy Smith for her monthly classes.

$7$ New make$-$up was purchased from Lip Gloss Ltd for R$380$ for the show that was coming up$.$

$8$ Borrowed R$30000$ from Norms Bank.

$9$ Paid R$200$ interest on the loan.

Activity $11\mathrm{.}12$ Analyse cash transactions

Analyse the following cash transactions in the table below.

$)=(15$

$1$ Made an electronic payment to the bank for interest on a loan of R$10000$ at $20\%$ p$.$a$.$ for three months.

$2$ Received cash of R$550$ for services rendered.

$3$ Issued a cheque for R$2700$ to Tyson Wholesalers for new equipment bought.

$4$ Bought stationery for cash from Mighty Suppliers for R$6400$ less $5\%$ trade discount.

$5$ The owner took cash for R$450$ of his own use. The owner took R$450$ cash for his own use.