Indicate whether each of the events described below gives rise to an expense under the Framework. If the event does give rise to an expense, what would be the other side of the transaction?

1. A temporary excess of cash is used to purchase $40 000 of shares in BHP Billiton.

2. $10000 is paid as a deposit on custom-designed equipment, to be completed and delivered next year. The total purchase price of this equipment will be $50 000.

3. A supplier sends notice that $1000 of raw materials have been shipped by freight, with payment due in 30 days. The buyer obtains title to the goods as soon as they are shipped by the seller.

4. A customer places an order for $800 worth of goods.

5. A production manager has been hired to oversee the company's operations, with employment commencing next month. One-twelfth of the annual salary of $108 000 is to be paid at the end of each month worked.

6. Inventory is acquired at a list price of $1500, with payment made in time to secure a 2 percent discount for prompt settlement. Cash discounts are treated as a reduction in the acquisition cost of the inventory.