Do it fast i have only 10 mins

Lailing: Review ) . 1 No Spac... Heading 1 Heading 2 Subtle Em... Title Subtitle T Normal Styles Paragraph Question 01: If a company purchase Machinery for 100,000 cash, what would be the effect on total assets? (Describe your answer in one line). Question 02: The owner of ABC Company purchased a new car for its daughter at the cost of $500,000 and recorded it in business balance sheet. The reporting of this in this manner violating the Cost principle? (Comment is this the right principle according to case? Why or why not?) Question 03: If the company record this transaction, "Purchase land on account (notes payable)." How changes occur in accounting equation. (Show the accounting equation presentation in ID or NE) Assets Liability + Owner's Equity: 0 8