Reference no: EM133205366
Ben started a new business called Easy Deliveries on 1 May 2022. The company is situated in Johannesburg and delivers packages on behalf of clients.
On May 1st, he deposits R16 500 in the bank account to commence the business.
The following transactions took place during the month of May 2022
2 May Pays rental for the premises for May of R2 000.
3 May Purchases a delivery vehicle of R75 000 on credit from ABC Ltd.
An immediate deposit of R7 500 was paid per EFT.
10 May Receives R18 000 for delivery services rendered.
12 May Borrows R85 000 from Ocean Bank. 14. Issues an invoice to Blue (Pty) Ltd for delivery services rendered for R12 300. 15 May Buys stationary for R8 500 and pay via EFT.
17 May Received an account from XZZZ Motors for fuel purchased on account during the month of R5 500.
18 May Withdraws R5 000 from an ATM for personal use.
26 May Pays salaries of R9 500.
Use the above information and indicate the effect the transactions would have on the accounting equation as stated below.
Use the following format:
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Bank +
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Other assets =
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Equity +
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Liabilities
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