Answer Happy

QUESTION 3. Akpatsu enterprise started business dealing in akpatogui and borbi from Keta. They deposited Ghc 100,000 in the business bank account on 20 July, 2016 as capital invested into the business. They withdrew Ghc 2000 from the bank account to be used in the office the same day. Below are the summery of transactions which took place in the course of the month of July, 2016; July 3, 2016 Paid for rent by cheque Ghc 7,500 July 4, 2016 Bought set of furniture costing Ghc 24.000 for the office from Woodkraft ltd by. paying Ghc 6.000 deposit and paying the rest through their credit scheme July 5, 2016 Bought computer and equipment for office use paying by cheque, Ghc 5.250 July 6, 2016 Bought stationery for office paying by cheque Ghc 1,550. July 14, 2016 Received a cheque Ghc 6.000 being commission received for selling a basket full of borbi. July 19, 2016 Sold 3 basket full of akpatogui for Davi Aflakpui Ghc 8,750 which she will not pay the commission until 30 September, 2016 July 25, 2016 Paid advertising expense Ghc 4,100 by cheque, out of this. Ghc 1,100 was in respect of the sale for Davi Aflakpui for she will re-inbursed Akpatsu later July 26 2016 Bought additional stationery for Ghc 970 with cash July 28, 2016 Withdrew a cheque for Ghc 5,200 to reimburse themselves for motor expenses of Ghc 840 and the balance for their personal use. Required, Show the effect of the above transactions on the accounting equation of the business of Akpatsuwo Enterprise.