Can someone answer part b and c here please and thanks

81476 FIN41700 X 583119 FIN41700 X SUCD Connect B, FIN41700 Solutie x Past Pap 0.pdf seling the water through a recently-mcorporated company, why's Mineral Water Ltd. You may assume this is legal for the purpose of this question. iv. The company was incorporated and began operating on the 1" October 2017. The following business transactions took place during the month of October: i. William invested 4,000 in the company's bank account. ii. A bank extended the company a loan of 1,000. iii. Borehole equipment was installed at a cost of 3,000 cash. 1,000 empty plastic bottles were purchased for 500 cash. V. 1,000 branded bottle stickers were purchased from a supplier on open account for 250. vi. 500 bottles of water were sold to a retail store in the nearby village for 2,000 on credit vii. 200 plastic bottles were faulty and were replaced by the supplier. The electricity bill was paid for October, costing 200 in cash. ix. The company telephone bill for October of 100 remained unpaid as an invoice had not yet been received by the end of the month. Depreciation of 50 was recognised on the borehole equipment for October. A sales contract was signed with a large wholesaler in Dublin for sales of 5,000 bottles of water for 20,000 a year. The first sale and delivery of bottles to the wholesaler, under the contract, will occur in January 2018. xii. 500 was paid in cash to a local truck company as a down payment on future transport services to complete the sales contract with the wholesaler in point (xi) above. viii. X. xi. At the 31st October 2017, William wished to apply for a further bank loan to expand his bottled water business. He is currently preparing financial information for a meeting with the bank manager. Required: a. Prepare a schedule to show the specific balance sheet accounts which will be affected by each of the twelve transactions above for the month ended 31 October 2017. (12 Marks) b. Describe the relationship between the balance sheet and the income statement. Use examples from the Willy's Mineral Water Ltd business. (4 Marks) c. William believes the balance sheet would look more appealing to the bank manager if he recognised the vast underground water flows beneath his property as an asset on the balance sheet. Discuss whether accountants would be prepared to recognise the underground water supply as an asset on the company's balance sheet. 81476 FIN41700 X 583119 FIN41700 X SUCD Connect B, FIN41700 Solutie x Past Pap 0.pdf seling the water through a recently-mcorporated company, why's Mineral Water Ltd. You may assume this is legal for the purpose of this question. iv. The company was incorporated and began operating on the 1" October 2017. The following business transactions took place during the month of October: i. William invested 4,000 in the company's bank account. ii. A bank extended the company a loan of 1,000. iii. Borehole equipment was installed at a cost of 3,000 cash. 1,000 empty plastic bottles were purchased for 500 cash. V. 1,000 branded bottle stickers were purchased from a supplier on open account for 250. vi. 500 bottles of water were sold to a retail store in the nearby village for 2,000 on credit vii. 200 plastic bottles were faulty and were replaced by the supplier. The electricity bill was paid for October, costing 200 in cash. ix. The company telephone bill for October of 100 remained unpaid as an invoice had not yet been received by the end of the month. Depreciation of 50 was recognised on the borehole equipment for October. A sales contract was signed with a large wholesaler in Dublin for sales of 5,000 bottles of water for 20,000 a year. The first sale and delivery of bottles to the wholesaler, under the contract, will occur in January 2018. xii. 500 was paid in cash to a local truck company as a down payment on future transport services to complete the sales contract with the wholesaler in point (xi) above. viii. X. xi. At the 31st October 2017, William wished to apply for a further bank loan to expand his bottled water business. He is currently preparing financial information for a meeting with the bank manager. Required: a. Prepare a schedule to show the specific balance sheet accounts which will be affected by each of the twelve transactions above for the month ended 31 October 2017. (12 Marks) b. Describe the relationship between the balance sheet and the income statement. Use examples from the Willy's Mineral Water Ltd business. (4 Marks) c. William believes the balance sheet would look more appealing to the bank manager if he recognised the vast underground water flows beneath his property as an asset on the balance sheet. Discuss whether accountants would be prepared to recognise the underground water supply as an asset on the company's balance sheet