1. Write a short note on Going concern concept and Full disclosure. 2. Use the accounting equation to analyze the following Transactions: a) Mr. X invests $30,000 cash to start a new business, X limited, in return for stock. b) The X limited purchased supplies for $ 2,500 and paid in cash c) The X limited purchased equipment for $ 26,000 on account d) The X limited paid $ 200 cash dividends to its owner.