1. Following transactions may or may not have an impact on the balance sheet of HMS Pvt Ltd. Mention only whether there was an increase/decrease or no change in the Assets, Liabilities and Owners Equity. Compute the net profit balance sheet.

a. Purchased an equipment for 20,00,000

b. Billed customers for services for 750,000

c. Depreciation charged for the equipment 300000

d.Sold merchandise worth 1000000 at 1050000 at cash basis

e. Bank loan borrowed 20000000

f. Purchase order raised for new equipment 5000000

g. Purchased a one year insurance policy to be consumed evenly over the next 12 months, 480000

h. Signed a purchase order for the purchase of equipment of 200000.

• On June 1, JW started a small specialty restaurant. The park experienced the following transaction in the first month.

1. June 1 JW raised capital of 8000000 in exchange for shares.
2. June 2 Hired admin staff
3. June 3 Purchased equipment for 1500000 on credit.
4. June 3 Borrowed Bank loan 1000000
5. June 3 Paid 5000000 for purchase of furniture.
6. June 7 Paid electricity charges 80000
7. June 30 Received cash 200000 as entry fee of the park
8. June 30 Paid interest of 10000 on loan
9. June 30 Paid Staff salary of 700000
10. June 30 Paid utility charges 50000

Prepare journal entries for the above transaction.