Question

1. Started business with capital $1,00,000

2. Bought furniture $25,000

3. Bought goods for cash$ 20,000

4. Bought goods from Ali on Credit $5,000

5. Sold goods for cash for $15,000

6. Sold goods to Abdullah on credit $8,000

7. Paid cash to Ali$ 4,000

8. Received cash from Abdullah $5,000

9. Paid Cash into Bank$ 25,000

10. Withdrawn from bank $10,000

Instructions:

For each transaction, show the proper effect on the accounting equation.