income statment

balnce sheet

# 1 N 3 Transaction Owners invested OMR100,000 to start the business Cash debit/Equity Credit Took a loan from the bank OMR50,000 (Cash debit/Bank Loan credit) Provided services and received OMR50,000 (Cash debit/Service Revenue Credit) Paid Salary to the staff OMR10,000 (Salary expense debit/Cash credit) Office utilities paid OMR5,000 (utility expense debit/cash credit) Purchased furniture paying cash OMR10,000 (Furniture debit/Cash credit) Office rent paid OMR5,000 (Office Rent debit/cash Credit) 4 5 6 7