Effects of transaction on accounting equation QUESTION 3. Akpatsu enterprise started business dealing in akpatogui and b

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Effects of transaction on accounting
equation
QUESTION 3.
Akpatsu enterprise started business dealing in akpatogui and
borbi from Keta. They deposited Ghc 100,000 in the business bank
account on 2nd 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
30th 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.