Q. No. 2 (a) () Asset(A) = Liability (L) (ii) Asset(A) = Owner's Equity (OE). Which statement is true? Why? Explain. (b) Describe the error which would not affect the agreement of the trial balance totals. (c) Mr. Gentle opened a store on November 1, 2017. During the first month of operations the following transactions occurred: Nov. 1 Invested Tk. 50,000 cash in the business. 12 Paid TK. 2,500 cash for the store rent for the month of November 13 Purchased store equipment for Tk. 62,500 paying Tk. 25,000 in cash and signing a Tk. 37,500 6-month 12% Notes Payable. 14 Paid Tk. 3,000 for one-year accident insurance policy. 19 Received bill from daily news for advertising the opening of the store Tk. 500. 20 Withdrew Tk. 1,750 cash for personal use. 30 Determined that cash receipts for services for the month was Tk. 15,500. Required: (0) Journalize the November transactions. (ii) Open ledger accounts and post the November transactions. (iii) Prepare a Trial Balance at November 30, 2017 [Marks: (5+5+15) = 25]