Reference no: EM132509735
Question - The following are miscellaneous transactions for Zestra stores for September 20.12. Ignore VAT. The business uses the perpetual inventory method with a mark-up of 33.333% on cost. Business's financial year on 30 September each year.
Date Transaction details -
1 The owner took a product from stock for personal use, selling price = R 7 000
14 Purchased an office computer on credit from Simplex Computers (Pty) Ltd 14 500
15 Credit sales of trading inventory, selling price = R 21 470
27 A debtor returned some of the goods purchased from Zestra stores on 26 September 20.12. The cost price of the goods in question was R 4 200.
30 Rent for September for R 8 600 is not yet paid by the end of September 20.12
30 Allowance for credit losses needs to be increased by R 300
30 Accrued wages of R 3 500 for September 20.12 are not yet recorded. Make the necessary adjustments.
Required - Show how the above transactions will affect the accounting equation and enter how the accounts in the general Leger will be affected.
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