Problem 4: Can you show that the Accounting Equation is met in all of Wajeeha Ejaz's subsequent business transactions?

I began my firm with a cash investment of Rs. 500,000.

II. A year's rent paid in advance is Rs. 6,000.

III. Purchased merchandising merchandise from Mr. Tahir for $80,000 in cash and $20,000 on account.

IV. Paid Rs. 100,000 in cash for marketable securities.

V. Rs. 30,000 in cash sales (cost 20,000).

VI. The rent expires at Rs. 2,000 during the duration.

VII. A commission of Rs. 1,000 was paid throughout the trading.

VIII. On marketable securities, I received a cash dividend of Rs. 4,000.

IX. Mr. Tahir was paid Rs. 19,500 in full settlement.

X. Owner withdrew merchandise worth Rs. 6,000 for personal use.

30 marks

2.

Compute the missing figures from the following using the accounting equation concept:

Assets = $50,000, Liabilities = $20,000, Owner's equity = ?

$10,000 in liabilities $15,000 in owner's equity

Liabilities =?, Assets = $60,000 $40,000 in owner's equity

Liabilities + Owner's equity = $150,000, Assets =?