Show the accounting equation on the basis of the following transactions for Rani, who is dealing in automobiles.
1. Started business with cash Rs. 80,000.
2. Goods bought on credit from Ramesh Rs. 10,000.
3. Purchased furniture for cash Rs. 6,000.
4. Paid creditors by cash Rs. 8,000.
5. Paid rent by cash Rs. 500.
