).
Show the effect of the following transactions for the month of March, 2015 on the assets, liabilities and capital of a General Store started by Mr.X on 1 March, 2015:
Also prepare Balance Sheet of General Store at the end of the month of March, 2015.
1. Started business with cash
50,000
2. Deposited in bank.
30,000
3. Purchased goods on credit from Mr. Y
10,000
4. Sold goods (costing 8,000) on credit to Mr.Z 10,000
5. Borrowed cash from Mr. A.
10,000
6 . Cash paid on account of salaries of employees 8,000
7. Furniture purchased
5,000
8. Withdrawn cash from business for personal use 2,000
Answers
Answer:
uNelson Mandela
Nelson Mandela was born in Mvezo, South Africa on 18 July 1918. He was in the forefront anti-apartheid movement in South Africa. In 1964 he was sentenced to life imprisonment and sent to Robben Island and released from the prison in 1990 after 26 years. In 1993 he was awarded the Nobel Peace Prize (along with F.W. de Klerk). In 1994 he became the first democratically elected president of South Africa. On 5 December 2013 he passed away. In 2009, the United Nations declared 18 July— the day Nelson Mandela was born — as “Nelson Mandela International Day” in recognition of Mandela’s contribution to the global peace and freedom. The objective of celebrating Mandela is to spread the message that each individual has the ability and the responsibility to change the world for the better, thereby to build a global movement for good. The day was launched to recognize his contribution to the struggle for democracy internationally and the promotion of a culture of peace throughout the world.
He said, “What counts in life is not the mere fact that we have lived. It is what difference we have made to the lives of others that will determine the significance of the life we lead”. If everyone of us heeds the call to simply do good every day, we would be living Nelson Mandela’s legacy and helping to build a world of our dreams.