QUESTION 1 1.1 ABC Company has the following information: Assets: Cash: ZAR 200,000 Accounts Receivable: ZAR 300,000 Equipment: ZAR 500,000 Liabilities and Owner's Equity: Accounts Payable: ZAR 150,000 Owner's Capital: ZAR 550,000 Calculate the total liabilities for ABC Company. 1.2 XYZ Corporation has the following information: Assets: Cash: ZAR 100,000 Inventory: ZAR 400,000 Property, Plant, and Equipment: ZAR 1,000,000 Liabilities: Accounts Payable: ZAR 300,000 Long-term Debt: ZAR 600,000 Calculate the owner's equity for XYZ Corporation. 1.3 DEF Enterprises has the following information: Assets: Cash: ZAR 50,000 Accounts Receivable: ZAR 200,000 Inventory: ZAR 300,000 Liabilities and Owner's Equity: Accounts Payable: ZAR 100,000 Long-term Debt: ZAR 150,000 Owner's Capital: ZAR 250,000 Calculate the total assets for DEF Enterprises. 1.4 List five (5) reasons why accounting is important