a For each of the following transactions, show the effect (as pluses and minuses) on assets, liabilities and capital. The first has been completed for illustration.

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Assets Liabilities Capital +10,000 1 Owner starts business with 10,000 paid into a business bank account on 1 May 2 Business buys furniture with a cheque for 2,500 on 2 May 3 Business pays 600 by cheque for a photocopier on 4 May 4 Business receives an invoice on 5 May from Chambers Ltd for 2,000 for inventory 5 Also on 5 May, the business buys inventory with a cheque for 600 6 Owner takes 400 from bank for personal spending money on 6 May 7 On 7 May, the business pays the invoice received from Chambers Ltd on 5 May 8 On 8 May, the business receives an invoice for 4,000 for a second-hand motor van Summary (overall change) +10,000 Bank b From the above table, complete the following equation: Capital