2- Jonny Tang has just finished his Photography Certificate course at the National Youth Training Center. On 1 April, Jonny Tang invested RM15,000 in his new business, Jonny Photography. He decided to prepare the financial statements for his business at the end of each month. The following are the transactions in the first month of the business operations in April: April 1 Rented office and dark room fittings from a photographer for RM800 in cash. 1 Page 2 Purchased photography supplies worth RM420. 3 Paid RM200 for the office cleaning expenses for the month of April in cash. 8 Finished a few jobs for customers and collected payment of RM150. 12 Finished a photography assignment for Sagun's wedding worth RM750 on credit. 15 Paid a half-month salary of RM750 for the shop assistant. 19 Received full payment from Sagun. April 20 Finished a photography assignment for Aseh Nursery worth RM700 on credit. 22 Purchased additional photography supplies worth RM250 on credit. 24 Completed a photography assignment for Women's Club worth RM475 on credit. 26 Subscribed for a brochure to advertise Jonny Photography from an advertising agency for a cost of RM120, which will be paid in early August. 27 Received full payment from Asch Nursery. 28 Settled the debt for additional photography supplies bought on 22 April. 30 Paid telephone bill for the month of April, RM140 in cash. 30 Paid a half-month salary of RM750 to the shop assistant. 30 Jonny Tang withdrew cash of RM300 for his personal use. Required: i. Form an accounting equation based on the ledger accounts involved as follows: Assets Liabilities + Owner's equity That is, Cash + Trade receivables + Photography supplies = Trade payables + Capital, Jonny Tang* Show the effect of each transaction on the accounting equation. Use the plus (+) sign to indicate an increment and the minus (-) sign to indicate a decrement. ii. Indicate the amount by which the owner's equity, liabilities, and total assets increased or decreased as at 30 April. iii. Prepare the income statement and the statement of changes in equity for the month ended 30 April and the statement of financial position as at 30 April. = *Capital Opening capital + Revenue - Expenses - Drawings.