Question 1. Analyse these transactions using accounting equation. [2 + 3 + 3 = 8 Marks] Cash = 200 000 Bank =240 000 Debtors = 100 000 Building 160 000 Land= 100 000 Overdraft 100 000 Creditors= 160 000 Notes Receivables=160 000 Notes Payables= 120 000 Loan=240 000 Capital ? Prepare the balance sheet and find out the capital? Balance sheet The company bought furniture for $ 240 000 paid 45% on credit and the rest by cheque. Balance sheet The company sold furniture for $ 160 000 received 25% on credit and the rest by cheque. Balance sheet Question 2. Journalize the following transactions in General Journal. [1 X 18 = 18 Marks On 1" January 2019 the owners started their business with $125 000 deposited into the company's bank account. On 2 January the company sold Land for S 60 000 by cheque. On 30 January the company sold Cars for S20 000on credit. On 4 January the company paid Salaries S10 000 by cheque. On 5 January the company received Rent Revenue $5 000 by cheque On 6 January the company received 575 000 loan from the Sohar bank and deposited into the company bank account. On 7 January the company bought and costs $100 000on credit On 8 January the company bought Cars for S45 000using On 9 January the company bought Goods for $60 000on credit On 10 January the company received Service revenues 5 000 Cash On 11 January the company received Interest revenue $ 7500 by cheque. On 12 January the company paid Rent Expenses S 5000 Cash. On 13 January the company bought Goods for S 40 000 by cheque On 14" January the company sold Goods for S 110 000 by cheque. On is January the company sold Goods for $ 50 000on credit. On 16 January the company paid Phone expenses for $ 7500 by cheque On 17 January the company received Rent revenues 5 000 by cheque On 18 January the company paid Interest expenses 5000 by cheque. General Journal NO Dates planter 9 10 12 15 16 13 Question 2. Journalize the following transactions in General Journal. [1 X 18 = 18 Marks On 1" January 2019 the owners started their business with $125 000 deposited into the company's bank account. On 2 January the company sold Land for S 60 000 by cheque. On 30 January the company sold Cars for S20 000on credit. On 4 January the company paid Salaries S10 000 by cheque. On 5 January the company received Rent Revenue $5 000 by cheque On 6 January the company received 575 000 loan from the Sohar bank and deposited into the company bank account. On 7 January the company bought and costs $100 000on credit On 8 January the company bought Cars for S45 000using On 9 January the company bought Goods for $60 000on credit On 10 January the company received Service revenues 5 000 Cash On 11 January the company received Interest revenue $ 7500 by cheque. On 12 January the company paid Rent Expenses S 5000 Cash. On 13 January the company bought Goods for S 40 000 by cheque On 14" January the company sold Goods for S 110 000 by cheque. On is January the company sold Goods for $ 50 000on credit. On 16 January the company paid Phone expenses for $ 7500 by cheque On 17 January the company received Rent revenues 5 000 by cheque On 18 January the company paid Interest expenses 5000 by cheque. General Journal NO Dates planter 9 10 12 15 16 13