Could you please help me to answer these questions! Thank you very much!

Total 9 marks QUESTION 1 ACCOUNTING CONCEPTS 1. The owner of a shop does not want to count credit sales as sales until 2. The owner of a shop purchased equipment ten years ago for $150,000. (1.5 marks) the cash has been actually received and banked. This equipment can now be sold for $250,000. The owner of the shop wants to value the equipment at $250,000 in the Statement of Financial Position. (1.5 marks) 3. Six rubbish bins were purchased for various offices for $40 each - total cost of $240. The rubbish bins are expected to last at least 20 years. The accountant advises the owner that there will be put in the office expenses account. (1.5 marks) Matt's business is not able to pay its Liabilities and the court has ordered it to be liquidated. Matt wants his PP & E to be shown at their historical values because they are still in good condition. 4. (1.5 marks) Brian used a large quantity of cement to make a barbeque area at his home. The cost of this cement has been treated as an expense of the business. 5. (1.5 marks) 6. The Accounts Receivable in Sheila's Statement of Financial Position are valued at $2,000 but included in this is $500 which is well overdue and unlikely to be paid. (1.5 marks) Required For each of the above situations: i) State the accounting concept involved ii) Use this accounting concept to explain: a) b) Whether the accounting treatment is correct or incorrect Why the accounting treatment is correct or incorrect