Question Completion Status: Moving to the next question prevents changes to this answer. Question 8 of 9 Question 8 10 points Saved Identify the relationships of the elements of the Accounting Equation (extended). 10 marks A Using the table provided, analyse the effect of the above transactions on the extended accounting equation and calculate the total. Hessa's Catering Firm was started on 1 March 2018. 1 by Hessa Ali. A summary of March transactions is presented below. Mar 1 Invested AED 60,000 cash to start the catering company. 2. Purchased equipment for AED 30,000. Paid AED 20,000 and remaining is on account. 3. Incurred AED 650 of advertising costs in the Emirates News on account. 4. Provided catering service on account to customers AED 7,500 10 Collected cash for services billed on Mar 7. + Liabilities Payable Owner's Equity Drawings Assets Receivable Supplies Capital Cash Equipment MERA Remaining Time: 15 minutes, 57 seconds. Question Completion Status: B. Name the three components of an Accounting equation used to show that left side is equal to right side. C. From the above transactions, choose an appropriate transaction which satisfies the following requirements: i) All the accounts affected by the transaction are on the same side of the equation ii) Can a transaction have an effect on more than two accounts? Use an example from the above transactions to justify your answer. For the toolbar, press ALT+F10 (PC) or ALT FN+F10 (Mac). TTT - Fonttum - Fontsi : T.E.E. Receivable Supplies Equipment - 60,000 (30,000 30,000 Payable Capital Drawings Revenue 60.000 30,000 20,000 650 (20,000) 650