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NOTE: Assessment weight: 15% . Candidates are advised to read all instructions before answering ASSIGNMENT Suppose a scenario of a new startup. Ali and Rashid started a business and during the month of June, following transactions took place. [Assume any values between 100 to 1000 RO for transaction 2 and onward June 1: Owners invested cash 20000 June 3: Purchased office supplies cash June 4: Purchase Furniture paying June 7: Purchase equipment of on account which is payable within next three months. June 11: Paid rent of the office June 12: Paid to a XY media company for advertisement of business. June 14: Sold goods for cash June 15: Sold goods to Saeed and Company on account June 19: Purchased materials on account June 22: Paid for purchase of equipment June 7. June 24: Purchased raw material paying cash and the rest of the amount on account June 26: Paid salaries to staff June 28: Paid half-yearly fire insurance to Oman Insurance in advance for 2021 June 29: Received from Saeed and Company client June 30: Borrowed 10000 form Bank Muscat to invest into company June 30: Saeed withdrew for personal use. Assignment Tasks: Record the transactions in Journal 15 marks 2. Post to the ledger 15 marks] Prepare a trial balance 15 marks Submission Instructions Use A4 size paper, Times New Roman 12 font size with single line spacing in text. Use first page of assignment as cover page to submit your work Submit soft copy of assignment through college portal on MOODLE Late submission is subjected to maximum deduction of 1 mark per delayed day Plagiarized work shall not be considered to award any marks Similar to other students (same assignment) will be given "ZERO" and dealt as plagiarized work