Aqil had the following assets and liabilities on 1 May 2017. Amount owing to Weston Water Supplies $700 Inventory $2250 Bank $90 Credit 5% Bank loan (repayable 30 June 2022) $5000 Motor vehicle $9500 REQUIRED (a) Calculate the:

1. (a)(i)Owner's capital[1]
2. (a)(ii)Capital employed[1]
3. (b)Prepare the following ledger accounts for the three months to 31 July 2017. Show the transfer to the income statement where appropriate. Balance the accounts and bring down the balances on 1 August 2017. Weston Water Supplies account Date Details $ Date Details $ Water expense account Date Details $ Date Details $[9]
4. (c)Name and explain the accounting principle or concept applied in estimating the water expense owing on 31 July 2017. Accounting principle or concept Explanation[3]
5. (d)Complete the following table for the transactions recorded in Aqil's books in July 2017. The first transaction has been completed as an example. Source document Book of prime entry July 19 Sold inventory on credit Sales invoice Sales journal July 20 Credit customer returned goods to Aqil July 23 Paid wages in cash July 25 Purchased motor vehicle on credit[6]