Task 2 (12 Marks) Selected Transactions from Al-Mukhaini Transport Services began on June 1, 2019 by Iman: a. Iman invested OMR. 600,000 in the business. b. Trucks were Purchased by business for OMR. 430,000. c. Equipment purchased on credit for OMR. 9,000. d. A bill of OMR. 7,200 for transporting goods was sent to Mr. Ashraf Abbasi, a customer. e. Cash of OMR 6,000 is received from the customer who was billed in d. f. Received OMR 22,300 is cash for transporting goods. g. A payment of OMR 5,000 was made on the equipment purchased in c. h. Paid expenses of different types for OMR 1,700 in cash. i. Equipment of OMR 1,200 was withdrawn from business for Iman's personal use. Required: 1. Arrange the Assets, Liabilities and Owner's Equity accounts in an Accounting Equation, using the following account titles: Cash, Trucks, Equipment, Account Receivables, Account Payable and Owner's Equity (9 marks) 2. Prepare the following T Accounts (3 marks) Cash account b. Accounts Receivable Accounts Payable Task 1 Marks) (12 18.000 Hashim Trading LLC is a local merchandiser in Oman. From the given Trail balance for the year ending 31.12.2019, prepare final accounts for the business. OMR OMR Sales /turnover 200,000 Purchases 85.000 Buildings 40.000 Inventory at 1 Jan 2019 Cash at Bank 12.000 Trade Receivables 75,000 Trade Payables 50.000 Plant and equipment 100,000 Rent and rates 15,000 Sales discount 5,000 Selling expenses 14.000 Wages and salaries 32,000 Bad Debt on Trade receivable 5.000 Bank interest 12.000 Carriage inwards 3.000 Retained earnings as at 1 Jan 2019 26,000 Share Capital at 1 Jan 2019 100,000 10% Bank loan 20,000 Sales return 18,000 Carriage outwards 2.000 396,000 396,000 The following information is also available:- a) Closing Inventory at the 31 December 2019 was valued at OMR 10,000. b) Wages and salaries paid in advance for 3months amounts to OMR 10,000. c) Rent and rates of OMR 20,000 were still outstanding at the year end. d) Depreciation on building for the year OMR 1,000 and Plant and Machinery OMR 25,000 is not accounted for