Q2. Using equation: Assets = Liabilities + Owner's equity to draw out a table of impact of underlisted transaction in the company's book. i. Commenced business with cash $50,000 ii. Purchased goods for cash $20,000 and on credit $30,000 iii. Sold goods for cash $40,000 costing $30,000 iv. Rent paid $500 v. Bought furniture $5,000 on credit vi. Bought refrigerator for personal use $5,000 15 Marks Q2. Using equation: Assets = Liabilities + Owner's equity to draw out a table of impact of underlisted transaction in the company's book. i. Commenced business with cash $50,000 ii. Purchased goods for cash $20,000 and on credit $30,000 iii. Sold goods for cash $40,000 costing $30,000 iv. Rent paid $500 v. Bought furniture $5,000 on credit vi. Bought refrigerator for personal use $5,000 15 Marks