2.3Alberta Schwartzkopf started business on 1 January 20X4 by paying £100,000 into a newly opened business bank account. Her transactions during the first two weeks of business were as follows.

1. 2 Jan.

2. 3 Jan.

3. 4 Jan.

4. 6 Jan.

5. 12 Jan.

6. 12 Jan.

Purchased furniture for £4,000 cash.

Purchased goods for resale for £10,000 cash.

Purchased goods for resale, on credit from Schmidt, for £20,000.

Sold all the goods she bought on 3 January (purchase price £10,000) for £15,000, to Weiss on credit.

Paid Schmidt £15,000.

Paid wages to staff £1,000.

Using an analysis sheet, show how the assets, liabilities and equity are affected by each transaction, showing how the balance sheet identity would appear after each transaction.