1. For each of following transaction, show the effect (as pluses and minuses) on asset, expenses, liabilities, capital and income (5 marks). Assets + Expenses = Liabilities + Capital + Income a) The owner pays in $6,000 to start the business's bank account b) The business pays wages of $250 by cheque c) Goods are bought for $400 on credit from Goff Limited d) Goods are sold on credit to Plod Limited for $510 e) A computer is bought for $600 with a cheque