Prove that the Accounting Equation is satisfied in all the following transactions of Rajaram. Also prepare a Balance Sheet

Prove that the Accounting Equation is satisfied in all the following transactions of Rajaram. Also prepare a Balance Sheet:-

1. Started business with Case ₹ 1,20,000.

2. Purchased a typewriter for cash for ₹ 8,000 for office use.

3. Purchased goods for ₹ 50,000 for cash.

4. Purchased goods for ₹ 40,000 on credit.

5. Goods costing ₹ 60,000 sold for ₹ 80,000 on credit.

6. Paid for Rent ₹ 1,500 and for salaries ₹ 2,000.

7. Received ₹ 800 for Commission.

8. Withdrew for Private use ₹ 5,000 in cash.

[Ans. Assets : Cash ₹ 54,300 + Typewriter ₹ 8,000 + Stock ₹ 30,000 + Debtors ₹ 80,000 = Liabilities : Creditors ₹ 40,000 + Capital ₹ 1,32,300; Balance Sheet Total ₹ 1,72,300.]