)Show the accounting equation on the basis of the following transactions and also (6)
show the Balance sheet:
(i) Started business with cash ₹ 60,000 and goods ₹ 30,000.
(ii) Purchased goods for cash ₹ 40,000 and on credit ₹ 25,000.
(iii) Goods costing ₹ 48,000 sold at a profit of 33-1/3 %. Three fourth payment is 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.
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