i need help

1. Compare between accounts receivable and accounts payable. (4 marks) 2. Karva Hair Salon lists its total liabilities as of today as RM74,000 and its equity as RM23,500. Required: a) Calculate the business's total assets using the accounting equation. (Show workings to support your answer) (3 marks) b) If the capital account only had RM10,000 at the beginning of the year and the owner made no withdrawals, did the business make a profit or loss this year and by what amount? (Show workings to support your answer) (4 marks) 1/7