Accounting Equation for Green Fingers Garden Services: March 2021

1. Mr. Potty Plant bought a new lawn mower for his business: R4,500.
2. Bought materials costing cash to render garden services: R340.
3. Mr. Plant buys airtime for his daughter and pays cash: R55.
4. The bank charged the business with bank charges: R230.
5. Mr. Plant cashes a cheque for R500 for the weekly wages.
6. New stationery was bought: R210.



Answer :

Let's break down each of the expenses incurred by Mr. Potty Plant for his business, Green Fingers Garden Services, in March 2021. We will sum these expenses step by step to find the total cost.

1. Lawn Mower: Mr. Potty Plant bought a new lawn mower for his business costing R4,500.

2. Material Costs: He spent R340 on materials needed to render garden services.

3. Airtime for Daughter: He purchased airtime for his daughter, which cost R55.

4. Bank Charges: The bank charged him R230.

5. Weekly Wages: Mr. Plant cashed a cheque for R500 to pay for weekly wages.

6. Stationery: New stationery was bought for R210.

Now, let’s add up all these expenses to find the total amount spent.

[tex]\[ \text{Total Expenses} = \text{Lawn Mower} + \text{Material Costs} + \text{Airtime for Daughter} + \text{Bank Charges} + \text{Weekly Wages} + \text{Stationery} \][/tex]

Substituting the values:

[tex]\[ \text{Total Expenses} = 4500 + 340 + 55 + 230 + 500 + 210 \][/tex]

Adding these up:

[tex]\[ 4500 + 340 = 4840 \][/tex]

[tex]\[ 4840 + 55 = 4895 \][/tex]

[tex]\[ 4895 + 230 = 5125 \][/tex]

[tex]\[ 5125 + 500 = 5625 \][/tex]

[tex]\[ 5625 + 210 = 5835 \][/tex]

Therefore, the total expenses incurred by Mr. Potty Plant in March 2021 amount to R5,835.