Show the effect of the following transactions upon the Accounting Equation in

each of the following transactions.

June $2021$

$1-$ Mr$.$ Salman started business with cash $$80,000,$ Inventory $$50,000$ &

Machinery Rs $5,000.$

$5-$ Purchased furniture for cash $$4,000$ and purchased goods from Naveed store

of $$25,000.$

$8-$ Sold goods to Rashid on credit basis for $$8,000,$ costing $$6,500.$

$12-$ Open a bank account and deposited $$40,000.$

$18-$ Sold goods for cash $$15,000,$ which is $20\%$ above cost.

$24-$ Received $$7,800$ from Rashid in full settlement for June $8$th transaction.

$29-$ Paid $$24,700$ to Naveed store in full settlement for June $5$th transaction

by bank.

$30-$ Paid rent and salaries for the month $$4,000$ and wages outstanding for

month $$1,000.$