2: Your line manager has asked you to use the Journal book that you have produced previously for the Software programming :company (in problem 1) in order to Instructions 1) Open ledger accounts and post the November transactions. 2) Prepare a Trail Balance at Nonember 30, applying the use of the balance off rule to complete the ledger. 3) Apply trial balance figures to show which statement of financial accounts they will end up in. Problem 3: In this task your line manager wants to assess your understanding and ability to prepare and produce the appropriate final accounts such as profit and loss account, owners' equity statement, and balance sheet. Instructions 1) Produce the final accounts for a sole trader business (Software Programming Company) including profit and loss account, owners' equity statement, and balance sheet for the Period ended November 30. Using the trial balance that you have produced in problem 2. 2) Compare the essential features of each financial account statement to analyse the differences between them in terms purpose, structure and content. TRANSACTIONS 1. January 1. Mr. Mohammad Owner invested cash OMR 40,000 2. January 4. Paid for advertisement published in the newspaper OMR 200. 3. January 6. Completed work for a client and immediately collected cash OMR 4,000. 4. January 11. Purchased Computer OMR 800 on credit. 5. January 14. Purchased supplies OMR 7,000 for cash. 6. January 15. Mr. Mohammad Owner withdraws OMR 1,000 from the business cash account for personal use. 7. January 17. Performed a service for a customer who promised to pay later in this month OMR 600. 8. January 18. Paid OMR 300 for miscellaneous expenses. 9. January 19. Collected OMR 500 on the amount owed by the client. 10. January 22. Paid Electricity Bill OMR 150 11. January 24. Paid cash OMR 400 for liability on computer purchased previously. 12. January 26. Paid salary of the accountant OMR 650 13. January 30. Completed work for another client OMR 8,000 but the client paid only for 50% of the amount. The remaining agreed to pay later. 14. January 30. Paid OMR 500 cash for the rent of office space 15. January 31. Received utilities bill of OMR 100 which will be paid later. 1. Introduction You are a Junior Accountant trainee in an accountancy firm which serves a number of clients with different financial needs. At the end of your training period your line manager wants to assess your ability and knowledge in handling some of the main financial accounting issues regarding the process of recording financial transactions and preparing basic final accounts, in order to do so he asked you to conduct some tasks to demonstrate your ability and to reflect the knowledge and skills you have gain during your training period. In this assignment you are required to handle a number of financial accounting problems. Problem 1: Your line manager has provided you with the following information: A Sole Trader business incorporates as Software Programming Company that specialises in providing computer programming services. The business has been established on 1st November, 2020 without having specialised accounting department or system. However, at the end of November the business faces major difficulties and misunderstanding of the process of recording and journalizes the relevant economic transactions that have been done during the first month in an appropriate and standardized way. Instructions In this task you have to use the transactions given at the end in order to: 1) Analyse transactions using double entry bookkeeping appropriately and effectively. Your analysis should show the effects of transactions on the basic accounting equation and the progression toward preparing the trial balance. The analysis should include: a) Which accounts does the transaction affect? (Names of individual accounts?) b) What category does each of these accounts belong to? (Asset, Liability or Owner's Equity, Revenue, Expense or Drawings?) c) is the value of the individual account going to increase or decrease as a result of the transaction? 2) Journalize the November transactions, by applying the double entry book-keeping system of debits and credits