32 2. Show the effects of following transaction on Accounting Equation: (i) Mr. Saleem started business with Goods Rs. 20,000 Building Rs. 50,000 & Cash Rs. 55000. (ii) Purchases goods on account for Rs. 15000. (iii) Sold goods on account for Rs. 20,000. (iv) Cash of Rs. 10,000 deposited into bank. (v) Paid cash to supplier of goods Rs. 10,000. www.paksights.com (vi) Received cash from customers Rs. 15000. (vii) A part of building costing Rs. 15000 was destroyed by fire. (viii) He made additional investment by cheque Rs. 10,000. (ix) Paid salaries Rs. 2000 by cheque. (x) Goods returned to supplier amounting to Rs. 2000. Ans: [Rs. 121.000). ACCOUNTING