Illustration 1. Show the Accounting Equation on the basis of the following transactions in the books of Vivek and prepare a Balance Sheet on the basis of the last new equation :
1. Vivek started business with \( ₹ 1,50,000 \) as capital.
2. Vivek purchased furniture for Cash \( ₹ 10,000 \).
3. Vivek purchased goods for cash \( ₹ 40,000 \).
4. Vivek purchased goods on credit for \( ₹ 32,000 \).
5. Goods costing \( ₹ 24,000 \) sold on credit for \( ₹ 30,000 \).
6. Paid \( ₹ 2,000 \) for rent.
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