Complete the accounting equation for the following transactions: 1. Owner invested R70 000 cash. 2. Received…

Question

Complete the accounting equation for the following transactions: 1. Owner invested R70 000 cash. 2. Received R5 000 cash for rent. 3. Received R4 500 cash for services. 4. Purchased equipment for R36

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Here is the completed accounting equation for the given transactions: No — Account debited — Account credited — Assets Dr (+) — Assets Cr (-) — Owner's equity Dr (-) — Owner's equity Cr (+) — Liabilities Dr (-) — Liabilities Cr (+)1 — Bank — Capital — +R70 000 — +R70 000 2 — Bank — Rent Income — +R5 000 — +R5 000 3 — Bank — Service Income — +R4 500 — +R4 500 4 — Equipment — Bank — +R36 000 — −R36 000

Complete the accounting equation for the following transactions: 1. Owner invested R70 000 cash. 2. Received R5 000 cash for rent. 3. Received R4 500 cash for services. 4. Purchased equipment for R36

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