Following are the transactions of Mughal Electric Ichra Lahore:
December 2008
01. Mughal invested cash Rs. 1040,000 in business and shop building Es. 246,000. :
02. Purchased Furniture Rs.31,500 on cash.
04, Purchased electric bulbs, electric irons, and other electric items Rs. 47,750.
05. Sold merchandise on cash Rs. 21,700.
07. Purchase electric heater, bulbs, PPI holders, etc from Modern electric store Rs. 13,245 on credit.
09. Purchase electric typewriter for office use Rs. 21,000
12. Purchased office supplies i.e files ribbons, white and carbon papers, etc. Rs. 1,235.
15. Rented a portion of the shop and received rent Rs. 2,000.
19. Paid cash to Modern Electric Stores. Rs. 7,245.
24. Sold electric bulbs, holders, switches, etc. to Jamal Electric or, credit for Rs. 21,345.
27. Received cash from Jamal Electric Stores Rs. 8,345.
Required: Prepare the Accounting Equation for the above transactions.
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