$($a$)$ Analyze the following transactions of Karnal traders during the financial year

$2019-2020$ and mention how these are affecting various elements of accounting

equations. $($b$)$ Prepare the final balance sheet for the company bases on the given

information and see whether the accounting equation is followed.

Tranaction$1$: Opened a bank account in Union Bank of India with an amount of Rs$.$

$4,80,000.$

Transaction $2$: Bought furniture for Rs$.60,000$ and cheque was issued on the same

day.

Transaction $3$: Bought plant and machinery for the business for Rs$.1,25,000$ and an

advance of Rs$.10,000$ in cash is paid to M$/$s Sidhu.

Transaction $4$: Goods purchased from M$/$s Leela Traders for Rs$.55,000.$

Transaction $4$: Goods cost Rs$\mathrm{.}25,000$ sold to Syberg Enterprises for Rs $35,000$