Question 2: Miss Hanouf has started a beauty parlor by investing 70,000 SR cash on 1st March 2012. Following are the transaction for the business. 1. Miss Hanouf purchased parlor equipment for 10,000 SR cash. 2. Other parlor accessories were purchased for 20,000 on credit. 3. Miss Hanouf has paid the 3000 SR as rent expense in cash. 4. Miss Hanouf has provided bridal make up services for 4,000 SR and received cash. 5. The parlor has provided services on account to some of the customers and wrote 4000 SR as receivables. 6. Miss Hanouf discussed an expansion project amounting 100,000 SR with her friend Sara. They might expand the services to other cities in 2015. 7. The electricity bill for the month was 1500 SR in total; Hanouf still did not pay cash for it. 8. Miss Hanouf received 2000 SR cash in terms of receivables. 9. 2,000 SR cash was taken from the business for personal use. Requirement: prepare accounting equation for Hanouf's Business. Cash +Supplies +Accounts Receivable +Equipment + + Accounts Payable Capital income expenses owner's drawing