Service that named as Oman Tech. On 16 January 2021, he invested OMR 150,000 cash in the business. 3rd January. The business purchased computers for OR. 25,000 cash. 10 January. The business performed a service to a customer and receives OR. 10.000 cash 15" January. The business received a bill for OR 1000 from the Muscat advertising Agency for advertising on its website but the business postpones payment until a later date 24th January. The company paid an amount of cash of OMR 500 for Internet expenses 25 January. Company received commission OMR 500 30th January. Mr Omer withdraws cash of OMR 2000 from the business for his personal use. You are required to show the effect of above transactions on accounting equation and prove the accounting equation at the end. (5 marks) Q2. Journalize the following transactions and post them into ledgers On 1 Jan 2019 Mr Ahmed started Business with cash OMR 50000 5 Jan Purchased furniture for cash OMR 5000 7" Jan sold goods on credit OMR 3000 8 Jan Purchased goods on cash OMR 6000 10 Jan Received cash from customers on credit sales OMR 3000 11 Jan purchased goods on credit OMR 5000 and paid OMR 2000 immediately. 15" Jan sold old furniture for cash OMR 2500 17" Jan paid remaining cash to accounts payables on 11" January credit purchases. 25" Jan paid salaries OMR 1500 27" Jan Paid office rent, factory cleaning charges and wages OMR 5000, OMR 100 and OMR 3000 respectively 29 Jan Received commission OMR 500 30 Jan Abdullah withdrawn cash for personal use OMR 2500 (7 marks) Q.3 Assume that Mr Abdullah started his business with the intention to continue it for a long time period and not to liquidate it in near future. Explain the accounting assumption involved in the above sentence