3- From the following transactions you are required to prepare:-

• Journal Book (3marks)
• Ledger Book (2marks)
• Trial Balance (2 marks)
• Income Statement (2 marks)

On August

1 Ahmed and Qasim jointly started new business named it Friends Company by investing RO 50,000 cash and RO 50,000 bank each.

2- Friends Company purchased land and building RO 5,000 from Khalid on credit.

3- Friends Company deposited RO 10,000 into bank.

4- Friends Company purchased car for RO 11,000 from Toyota. Paid RO 5,000 cash and rest on account.

5- Friends paid RO 500 fuels and 500 car maintenance expenses.

6- Friends Company sold goods RO 1,250 to Ali. Received RO 500 by cheque and rest on credit.

7- Friends Company paid to RO 4,200 to Toyota.

8- Friends received RO 3,500 cash in advance for supplies to be provided later.

9- Ahmed and Qasim withdraw RO 2,200 cheque from bank for personal use.

10- Friends Company paid salary to employees worth RO 6,800 cash.