This accounting problem is solved step by step below, with detailed explanations to help you understand the method and arrive at the correct answer.
ScanSolve AI Answer
Here are the solutions for the questions. 2.2: CASH RECEIPTS JOURNAL Here is the Cash Receipts Journal for Habana Dry Cleaners for March 2026: |l|l|l|l|l|l|l| Date & Details & Fol. & Bank (Dr) & Analysis of Receipts (Cr) & Sundry Accounts (Cr) \\ 5-6 & & & & Service Income & Amount & Details \\ 2026 Mar 1 & Capital: B. Habana & & R90 000 & & R90 000 & Capital: B. Habana \\ 2026 Mar 17 & Service Rendered & & R2 810 & R2 810 & & \\ 2026 Mar 22 & Service Rendered & & R3 090 & R3 090 & & \\ 2026 Mar 26 & Rent Income & & R5 000 & & R5 000 & Rent Income \\ 31 Mar & Totals & & R100 900 & R5 900 & R95 000 & \\ QUESTION 3: ACCOUNTING EQUATION 3.1 Here is the effect of the transactions on the accounting equation: 1. Owner, W Wilson increased his capital contribution by 50 000, receipts 100 issued. Assets: +R50 000 (Bank increases) Owners' Equity: +R50 000 (Capital increases) Liabilities: 0 (No effect) 2. Service rendered amounted to R3500, as per cash register roll. Assets: +R3 500 (Bank increases) Owners' Equity: +R3 500 (Service Income increases, which increases Owners' Equity) Liabilities: 0 (No effect) 3 done, 2 left today. You're making progress.