Prepare accounting equation of A on the basis of the following transactions. Also prepare the balance sheet of the same:
a. Commenced business with cash ₹ 160000. b. Bought goods for cash ₹ 40000 and on credit ₹ 25000.
c. Paid wages ₹ 6000 and rent ₹ 2000.
d. Wages outstanding ₹ 2000.
e. Sold goods costing ₹ 24000 for ₹ 32000 for cash.
f. Goods bought was returned to creditor ₹ 2000.
g. Bought furniture for cash ₹ 4000 and on credit ₹ 6000.
h. Charge interest on capital @ 10% for the year.
i. Cash deposited in to bank ₹ 50000.
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