AID22071: Analyse the following transactions for Surprise Ltd. using the concept of Accounting Equation comprising of Assets, Liabilities and Equity.
1. Commenced business with cash of ₹5,00,000.
2. Purchased equipment for cash ₹2,00,000.
3. Purchased furniture worth ₹50,000 on credit from IndiMart.
4. Purchased raw materials for ₹ 25,000 against cash from XYZ Suppliers.
5. Deposited cash of ₹1,25,000 in the current account.
6. Sold goods for ₹75,000 and received a cheque against the same.
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