Problem

Solve the following Question by apply the Accounting Equation :

Habib Ullah Sadiq is wholesale trader; He performed following mention transaction during the Year:

1. Commence business with cash $ 200,000 and Land $ 50,000.
2. Bought merchandising for cash $ 80,000.
3. Cash sales of worth $ 25,000.
4. Bought goods on credit from Salman of worth $ 50,000.
5. Sales on account to Ali Raza $ 12,000.
6. Purchase furniture of the value of $ 5,000 by cash.
7. Received cash form Ali Raza of $ 10,000.
8. Return defective furniture of worth $ 1,500.
9. Paid wages $ 1,000, Rent 2,000 and Electricity Bill Payable $ 1,500.