Question: Would like some help with this practise question, am a new accounting student, and if it's possible please add some notes to explain some answers,

Would like some help with this practise question, am a new accounting student, and if it's possible please add some notes to explain some answers, thank you!

Would like some help with this practise question, am a new accounting

QUESTION 1 (25 marks) The following transactions relate to Randburg Co. for the month of February 2018.Ignore VAT. The business uses a perpetual inventory system with a mark up of 50% on cost. Date Transaction 1 The owner took clothing from stock for personal use, selling price is R750. 9 Paid SA Suppliers by EFT for trading inventory purchased, R5 000. 11 Purchased an office desk on credit from Pretoria Limited for R6 200. 14 Credit sales of inventory, selling price of R15 470. 26 Cash sales of trading inventory, selling price of R14 950. 27 Returned some of the goods worth R2000 purchased from SA suppliers on 9 February and received a cash refund. 28 Received dividend income of R 500. Required: Show how the above transactions will affect the accounting equation and enter how the accounts in the general ledger will be affected, as shown in the example below. Example: Received capital contribution of R200 000 in cash. Date Assets (R) Liabilities 200 000 + Owners Equity (R) + Dr 200 000 Bank Account Capital Account

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