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

Balance sheet baggett company's balance sheet accounts and amounts as of december 31, 2016, are shown in random order as follows: account debit (credit) account debit (credit) income taxes payable $(3,800) additional paid-in capital on preferred prepaid items 1,800 stock $(7,900) additional paid-in capital on common stock (9,300) allowance for doubtful accounts (1,600) land 12,200 bonds payable (due 2020) (23,000) notes payable (due 2019) (6,000) buildings 57,400 notes receivable (due 2018) 16,400 sinking fund to retire bonds payable 5,000 accounts receivable 12,600 advances from customers (long-term) (2,600) premium on bonds payable (1,400) cash 4,300 accounts payable (13,100) accumulated depreciation: equipment (9,700) inventory 7,400 retained earnings (18,300) accumulated depreciation: buildings (21,000) preferred stock, $100 par (18,600) patents (net) 4,600 wages payable (1,400) equipment 28,700 common stock, $10 par (12,700) required: 1. prepare a december 31, 2016 balance sheet for the baggett. baggett company balance sheet december 31, 2016 assets current assets: $ $ $ long-term investments: $ property, plant, and equipment: $ $ $ intangible assets: liabilities current liabilities: $ $ long-term liabilities: $ $ other liabilities: shareholders' equity contributed capital: $ $ $ $ 2. compute the debt-to-assets ratio. round to one decimal place. do not enter a percent sign (%) as part of your answer. %