Explain the impact of following business decisions on financial statements (on five accounts Assets/ Liabilities/ Equity/ Revenue and Expense) using a double-entry book-keeping system:

1) Purchase of a new asset during the year for $100,000, the age of which is estimated at 5 years, post which it can be sold for $10,000.

2) Buying 1000 units of Raw-material at $150 per unit, and selling 750 units of finished goods for $670 per unit.

3) Buying patents for $20000 which is going to give a benefit for 20 years.