Scenario or Tasks Part A: Siraj wants to start a new restaurant in Muscat. He brought in OMR 7,500 in cash and a cooking range costing OMR 6,000 in the business. The transactions of the first month of the operation are as under: 3- Sept-18 Deposited OMR 4,500 in bank. Also purchased food stuff (raw material) for OMR 2,000 Purchased raw-material from Salim for OMR 1,800 7-Sept-18 Sales for the day OMR 200 9-Sept-18 11-Sept-18 Party order delivered to Al Sukun super market on credit for OMR 500 14-Sept-18 Paid Salim by cheque. Received trade discount of OMR 20. Account is settled. 16-Sept-18 Received money from Al Sukun super market in the bank account towards account settlement. 21-Sept-18 Withdrew OMR 250 for personal use form the business 24-Sept-18 Sent quotation to a hospital for one-year canteen contract. Applied for a bank loan for RO 4500 27-Sept-18 Purchased a used kitchen equipment for 50% discount. Market price of the machine is OMR 2000 30-Sept-18 Sales for cash OMR 120, Bank loan got approved and money received in the bank account OMR 4500. Required (2.5 marks) Task 1 Show the effects of above transactions on the accounting equation. (2.5 marks) Task 2 Pass journal entries for all the above transactions. (2.5 marks) Task 3 Write a note on General Ledger and Receivable Ledger. (2.5 marks) Task 4 Draw "T accounts" for the following and find out the closing balance. 1. Bank/Cash account 2. Capital Account 3. Purchase Account 4. Bank Loan Account 5. Salim's Account