Reference no: EM132966546
Question - On January 1, 2020, Rajdeep started Quality Photo company. The following transactions took place during the first month:
Jan 01: Rajdeep invested Rs 100,000 in cash as share capital
Jan 02: Bought supplies of photographic material on credit, Rs 25,000
Jan 05: Bought photographic equipment for cash Rs 40,000
Jan 07: Received fee for photographic service es rendered Rs. 30,000. Used Rs 10,000 equivalent of photographic material (supplies) for this sale.
Jan 13: Paid creditor for supplies Rs 15,000
Jan 18: Tool a loan from Bank Rs 50,000
Jan 22: Billed customer for services Rs 37,500. Used Rs 12,500 equivalent of photographic material (supplies) for this transaction.
Jan 27: Paid office expenses Rs 12,000 Required:
Required - Analyze the effect of these transaction on the accounting equation?