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quesToN ONE [2] “The scsounting equston the Alpha of Acsaunting es. Aste ui Sccontant st the siatonery shop. Polka Dats (ty) Lid. Transactions relsed o the 2022 nancial year: 1. Posters to th value of R550 was purchased by he primary schoo Payment was. made cash. 2 Unwanted goods of RS0D purchased by irs. Strong on account, was retumed. “The costo the goods RE00. 3 Me. Prince applied 0 pen an account at Poka-Dots (Py) Lid. Ali of 2.000 was approved by management. 4. Me Prince purchased statonery of R1 750 for hs Grade © child on credit. 5. Fi Bank charged the monty bank charges of RES. ©. The municipal il n respect of water and lecticty usage, amounting fo R50 [r— 7. Alongouisiandng disput wih te celphone company was fal resoved. The conmecing cred was passed by th calphone company of R140. 8. Tofu he stock shortage, an order of 5 000 was issued o GREAT Ls. ©. Renal of RO00 was paid a5 per he tered ease agreement. 10. Cash sles of R750 was made to Mr. Stong. The costo he goods RAOO.. 1. Fuel of R800 for he elvery ruck was posted fo he salaries and wages. scout. 12. We Plas son was accep to sky te unwersty. Th sitonery needs re not yet communicated. A Me. Plan wil bs traveling he aid 3 deposit af Ré 000 EEE ——————— 1 PolkaDot (Py) Ls to apy to is so's statenery needs. 13. We. Sick passed away. His esate has insuficent nds fo sete is scoount of 3.500. The lawyers ofered nal seement of 80 ne rand. 14. Depressions calciaed on he sight ins bass of 25% by PokaDot (Py) Lid The annual depreciation on the deluery Fuck purchased for R350 000 in 2020, have not been accoed 15. The company uses he parodic nvenioy system. Atfnancl yearend sock of 5500 was cn han. The apening balance on inventory account moses 000. 16. The owner sates the vehice loan of RS 60D fom her cnn 3st.

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Uploaded ImagequesToN ONE [2] “The scsounting equston the Alpha of Acsaunting es. Aste ui Sccontant st the siatonery shop. Polka Dats (ty) Lid. Transactions relsed o the 2022 nancial year: 1. Posters to th value of R550 was purchased by he primary schoo Payment was. made cash. 2 Unwanted goods of RS0D purchased by irs. Strong on account, was retumed. “The costo the goods RE00. 3 Me. Prince applied 0 pen an account at Poka-Dots (Py) Lid. Ali of 2.000 was approved by management. 4. Me Prince purchased statonery of R1 750 for hs Grade © child on credit. 5. Fi Bank charged the monty bank charges of RES. ©. The municipal il n respect of water and lecticty usage, amounting fo R50 [r— 7. Alongouisiandng disput wih te celphone company was fal resoved. The conmecing cred was passed by th calphone company of R140. 8. Tofu he stock shortage, an order of 5 000 was issued o GREAT Ls. ©. Renal of RO00 was paid a5 per he tered ease agreement. 10. Cash sles of R750 was made to Mr. Stong. The costo he goods RAOO.. 1. Fuel of R800 for he elvery ruck was posted fo he salaries and wages. scout. 12. We Plas son was accep to sky te unwersty. Th sitonery needs re not yet communicated. A Me. Plan wil bs traveling he aid 3 deposit af Ré 000 EEE ——————— 1 PolkaDot (Py) Ls to apy to is so's statenery needs. 13. We. Sick passed away. His esate has insuficent nds fo sete is scoount of 3.500. The lawyers ofered nal seement of 80 ne rand. 14. Depressions calciaed on he sight ins bass of 25% by PokaDot (Py) Lid The annual depreciation on the deluery Fuck purchased for R350 000 in 2020, have not been accoed 15. The company uses he parodic nvenioy system. Atfnancl yearend sock of 5500 was cn han. The apening balance on inventory account moses 000. 16. The owner sates the vehice loan of RS 60D fom her cnn 3st.

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Asked by: Mazhar Uddin Mohammed
Created at: 2025-10-27 15:35:33

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# Explanation of the Accounting Equations and Transactions The question provides various transactions related to the 2022 financial year for Polka-Dots (Pty) Ltd. The main accounting equation here is: **Assets = Liabilities + Share’ Equity** Key Transactions and Their Impact 1. **Poster purchase (cash):** - Debit: Posters (asset) R550 - Credit: Cash (asset) R550 2. **Goods purchased (credit):** - Debit: Goods (asset) R800 - Credit: Mrs. Strong (liability) R800 3. **Goods returned (credit):** - Debit: Mrs. Strong (liability) R500 - Credit: Goods (asset) R500 4. **Mr. Prince’s application (approval):** - Not affecting the equation directly but involves assets (cash R2,000) and possibly equity (via capital approval). 5. **Mr. Prince’s stationery purchase (credit):** - Debit: Stationery (asset) R1,750 - Credit: Mr. Prince (liability) R1,750 6. **Fly Bank charges:** - Debit: Bank charges (expense) R45 - Credit: Cash (asset) R45 7. **Municipal bill (water & electricity):** - Debit: Utilities expense R850 - Credit: Municipal bill payable R850 8. **Phone company dispute:** - Adjusted via credit of R140 (liability or expense adjustment). 9. **Stock shortage (order):** - No effect on assets or liabilities; records order. 10. **Rental paid:** - Debit: Rental expense R600 - Credit: Cash R600 11. **Fuel for delivery truck:** - Debit: Delivery vehicle expense R800 - Credit: Cash R800 12. **Son’s university deposit:** - Debit: Deposit asset R4,000 - Credit: Cash R4,000 13. **Legal fees settlement:** - Debit: Legal expenses R300 - Credit: Cash R300 14. **Depreciation:** - Debit: Depreciation expense R350 - Credit: Accumulated depreciation R350 15. **Inventory stock:** - Inventory increases by R5,000 - Opening stock is R8,000 16. **Vehicle loan:** - Debit: Vehicle asset R5,000 - Credit: Loan account R5,000 --- **Note:** These transactions collectively affect assets, liabilities, and equity, which are core components of the accounting equation.

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