Reference no: EM132621680
The following are miscellaneous transactions for Zestra Stores for September 20.12. Ignore the VAT. The business uses 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 7 000.00.
14 Purchased an office computer on credit from Siplex Computers = R14 500.00.
15 Credit sales of trading inventory, selling price =R 21 470.00.
27 A debtor returned some of the goods purchased from Zestra Stores on the 26 September 20.12. The cost price of the goods in question was R 4 200.00.
30 Rent for September for R8 600.00 is not yet paid by the end of September 20.12.
30 Allowance for credit losses needs to be increased by R 300.00.
30 Accrued wages of R 3 500.00 for September 20.12 are not yet recorded. Make the n necessary adjustments.
Required
Question a: Show how the above transactions will affect the accounting equation and enter how the accounts in the general ledger will be affected.