The following transactions during January 2020 relate to County Traders: ...
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Accounting
The following transactions during January 2020 relate to County Traders:
| Date January | Details | Amount (R) |
| 01 | Paid for rental of equipment. | 500 |
| 04 | Purchased a vehicle on credit from Sevenoaks. | 24 000 |
| 06 | Received partial payment from debtor, Kent. | 2 000 |
| 08 | The owner pays with a business cheque for personal expenses. Withdraws money for personal use. | 1 200 800 |
| 10 | Paid creditors. | 12 000 |
| 12 | Rendered services on credit to Surrey. | 4 000 |
| 15 | Issued a credit note to Surrey for unsatisfactory services. | 200 |
| 20 | Cashed cheque 111 for: Telephone Wages for the month |
150 900 |
Required:
Show the effect of the above transactions of R Red on the accounting equation. Use + to denote an increase, - to denote a decrease and 0 to denote no change to the elements of the equation. Present the above transactions in the following format:
| No. | Acc debit | Acc credit | Assets | = | Equity | + | Liabilities |
| e.g. | Bank | Sales | +200 |
| +200 |
| 0 |
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