Question
Following are the transactions of a business for the month of January, 2020. Jan. 1 Ali commenced a business by depositing Rs. 175,000 into a
Following are the transactions of a business for the month of January, 2020. Jan. 1 Ali commenced a business by depositing Rs. 175,000 into a Bank account. Jan. 5 Purchased a Machinery for cash Rs. 125,000. Jan. 7 Purchased a Building for Rs. 50,000, paying Rs. 15000 cash and incurring liability of Rs. 35,000. Jan. 11 Sold a part of machinery for Rs. 25,000 receivable within three months. Jan. 15 Purchased office equipment for Rs. 5,000 on account. Jan. 19 Received Rs. 5,000 as partial collection of Accounts Receivable. Jan. 25 Paid Rs. 7,500 as wages. Jan. 30 Services revenue due Rs. 50,000. Instructions: Show the effect of the transactions on the accounting equation in tabular form.
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