Activity 1 SPIP activity Required: Show the effect of each transaction on the accounting equation. In each case provid amount, effect and reason. Example: Bought new register and pay via EFT, R6000 ASSETS OWNER'S EQUITY Effect Reason Effect Reason Equipment increases Bank decreases +6000 -6000 Transactions: 1. Paid the telephone account by debit card at Pick 'n Pay, R450. 2. Received R3000 for services rendered. 3. Paid the owner's TV licence through EFT, R280. 4. Received R2000 from tenants renting office.
Activity 1 SPIP activity Required: Show the effect of each transaction on the accounting equation. In each case provid amount, effect and reason. Example: Bought new register and pay via EFT, R6000 ASSETS OWNER'S EQUITY Effect Reason Effect Reason Equipment increases Bank decreases +6000 -6000 Transactions: 1. Paid the telephone account by debit card at Pick 'n Pay, R450. 2. Received R3000 for services rendered. 3. Paid the owner's TV licence through EFT, R280. 4. Received R2000 from tenants renting office.
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter22: Master Budget (master)
Section: Chapter Questions
Problem 2R: Open the file MASTER from the website for this book at cengagebrain.com. Enter all the formulas...
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