1) A company was established as a new company and has the following transactions in the first month of January 2020.

i) Issue $824million shares by the shareholders.

ii) Investment in the selected tools of $231million is acquired for cash.

iii) Purchase inventory of $304million and $304million is acquired on the account.

iv) An unsatisfactory inventory costs $56million in return for the above transaction (iii) for full credit.

v) Equipment of $395million is acquired for a cash down payment of $157.25 million plus a three-month promissory note of $242.25million.

vi) The company carried inventory at the cost of $462million sold for cash of $303.6million and an open account of HK$303.6million.

vii) The company pays $160.95million on the account described in the above transaction iii.

viii) An operation expense of $80million was recognized and all paid in cash.

A.Double-entry accounting is a rule of accounting in the investment of the construction industry, use T- account.