From the following transactions, prepare Accounting Equation. 1. Commenced the business by investing Rs.500,000. 2. Purchased a piece of land for Rs. 300,000. 3. Purchased Machinery for Rs.50,000. 4. Purchased Office Equipment for RS. 50,000, paying Rs. 20,000 in cash and incurring a liability for Rs. 30,000. 5. Sold a piece of land for Rs. 55,000, collectible within four months. 6. Received Rs.40,000 as a partial collection of the Rs. 55,000 accounts receivables. Paid Rs. 10,000 to accounts payables. 7. Goods amounting to Rs.5,000 withdrawn for personal use