Use the information provided below to answer the question that follows. The following transactions relate...
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Accounting
Use the information provided below to answer the question that follows. The following transactions relate to Mr Tapet Ltd on the month of June 2005. 1st: The owner invested R150 000 into Mr Tapet Ltd and this amount was deposited into the business' bank account. 2rd: A payment of R3 000 was paid for rent by the company. 4th: Purchased inventory on credit from Miss Mapet Ltd valued at R20 000, a R2 000 deposit was paid. 11th: The company paid R2 000 to Miss Mapet Ltd for the inventory purchased on the 4th of July. 12th: The owner also invested equipment valued at R50 000 into the company. 17th: Mr Tapet drew cash valued at R2 000 out of the business's bank account for his personal use. 25th: Cash sales valued at R15 000 were received from inventory sales, the cost price is valued at R9 000. 26th: Payment of R1 000 was made for electricity and water. 27th: Miss Nene, a customer, bought stock to the value of R25 000 on credit, cost of sales is valued at R10 000. 30th: A motor vehicle of R90 000 was bought by taking a loan from the Bank. TRANS NO. Assets Account debited Account credited Liability Owners' equity
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