Question1 a) State the Accounting Equation and show how each of the following transactions undertaken by DE Ltd in December 2008 can affect the Equation: i. Dec.1, 2008 Purchased goods for resale on credit GHe150,000 ii.Dec.3, 2008 Paid Rent Expense for the month of November 2008 with cheque GHg250 iii. Dec. 6, 2008 Bought Ofice Furniture with cheque GH2,500 iv. Dec. 15, 2008 Sold goods costing GHf50,000 on credit GH72,500 v, Dec. 20, 2008 Sold goods costing GH25,000 for cash GH37,000 vi. Dec. 20, 2008 Mr. Alimo, the sole shareholder of the Company introduced additional capital of GH75,000 by deptsiting a cheque in the Company's bank account for 1,000,000 ordinary shares marks b) State and describe what happens at cach stage of the Accounting c) What is a Transaction? d) Give two (2) examples each of Internal and external trahsactions. Cycle. 3 marks 2 marks 2 marks e) Identily the two main causes that will lead to a discrepahcy between the bank statemert balance and the cashbook balance. Give three examplet each of the two causes. 4 marks 0 List five reasons foi which a bank wili disnonour a cheque 2 marks