Accounting Equation
Question
Fred invests R100 000 into his business and deposits it into the bank account.
He spends R50 000 on buying the premises and R15 000 on equipment paying by cheque
He buys R10 000 on a van for credit
He obtains R 7 500 worth of Trading stock
Fred withdraws R3 000 for his own personal use.
He spends R 1 500 to pay for water and electricity
ASSETS
OWNERS EQUITY
LIABILITY