00.000 0.000 Cash at 000/= V. VZ. Vill ix IV. E EXERCISES Construct accounting equations for each of the following transactions and prepare a simple balance sheet at the conclusion of all transactions. An individual started business with 5,000,000 cash at hand and 10,000,000 cash at bank Purchased stock of goods for 3 million paying 50% cash and 50% on credit. Sold of the goods at 2,500,000 credit. Paid rent 100,000/= cash Received cash payment of 2,000,000 from debtors and paid 1,000,000 cash to suppliers. Bought motor vehicle for 6,000,000, paid 2,000,000 by cheque and 1,000,000 cash and promised to the pay balance later. Sold half of the remaining stock of goods for 700,000/= collecting cash of 200,000/= immediately and the balance to be received later... Paid electricity 200,000/- by cheque. Used business cash of 200,000 to buy a gomesi for his wife Acquired Entandikwa loan of 4,000,000 shillings cash. The loan is to be repaid in two years' time