Urgent Pls Help (Business Accounting)

Question 1 An Oklahoma City business paid RM15,000 cash for equipment used in the business. At the time of purchase, the equipment had a list price of RM20,000. When the balance sheet was prepared, the value of the equipment was RM22,000. What is the relevant accounting concept applied in this situation and what is the value of the equipment should be recorded in balance sheet? Question 2 Ted Leo is the proprietor (owner) of Ted's, a retailer of golf apparel. When recording the financial transactions of Ted's, Ted does not record an entry for a car he purchased for personal use. Ted took out a personal loan to pay for the car. What accounting concept guides Ted's behavior in this situation? Explain briefly about the concept that Ted should use in this Situation. Question 3 The following information is available for Anderson Company: Sales $105 000 Freight-in Ending Inventory $9 000 Purchases returns Purchases $60 000 Beginning Inventory $3 500 $1 500 $11 000 Calculate the cost of goods sold for Anderson Company. Show your workings