Show the accounting equation on the basis of the following transactions and also show the Balance Sheet. Started business with Cash ₹ 60,000 and Goods ₹ 30,000

Show the accounting equation on the basis of the following transactions and also show the Balance Sheet:

(I) Started business with Cash ₹ 60,000 and Goods ₹ 30,000.

(ii) Purchased goods for Cash ₹ 40,0000 and on Credit ₹ 25,000.

(iii) Goods costing ₹ 48,000 sold at a profit of 33 and 1/%. Three-fourth payment received in Cash.

(iv) Goods costing ₹ 20,000 sold at a loss of 5%, out of which ₹ 12,000 received in Cash.

(v) Paid Rent ₹ 4,000 and Salary ₹ 6,000.

(vi) Received Cash from Debtors ₹ 15,000.

(vii) Paid telephone bill amounting to ₹ 800.

[Ans. Assets : Cash ₹ 84,200 + Stock ₹ 27,000 + Debtors ₹ 8,000 = Liabilities : Creditors ₹ 25,000 + Capital ₹ 94,200; Balance Sheet Total ₹ 1,19,200.]