Answer to Question #297761 in Economics for Tas

Question

The following transactions of JDE Corp took place during the financial period

ending 31 March 2022:

1.The owner of the business, Mr J Dough, took inventory for his personal

use, R1 000.

2.The business received dividends in cash from their investments, R6 800.

3.JDE Corp returned inventory that was damaged to the supplier, R700.

4.The business paid cash for electricity for the month of March, R500. y

5.Sold goods on credit to several customers, R15 800.

6.Bought goods on credit worth R25 000.

7.A R3 500 loan was received from the bank, payable after five years, at

7% interest per annum.

8.Company applied for an overdraft of R10 500 and it was approved at the

and of March 2022

Show the effect of the transactions above in the accounting equation of JDE Corp

for the month of March 2022. To answer this question, reproduce and complete

the template provided below in your Answer Book.

(15)

Answer 1

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