Please answer broadly and exactly.

Question No: 1 Valuing assets at historical cost prevents overstating an asset's value- Interpret the statement with example. Question No: 2 Describe the effects of the following transactions of a company on the accounting equation using the tabular format: i. Invested $10,000 of cash and $100,000 of goods in the business. ii. Sold products to a company and received $3,000 in check and $2,000 in cash and rest of the $8,000 is received yet. iii. Purchased some office cabinet of $4,000 for the business on account. iv. Death of Managing Director of a company and recruited another MD in the replacement whose monthly salary is $15,000. Paid insurance premium covering 2 years insurance policy of $12,000. V