Activity for 5 Marks ACTIVITY 1 BAAC1102 - PRINCIPLES OF ACCOUNTING 1 You are required to prove the Basic Accounting Equation after each of the transactions. ASSETS = LIABILITIES + CAPITAL January 1 2019. Mr. Ahmed started business with cash OMR... January 2 2019. Purchased furniture on credit from ABC company OMR 1000 January 3 2019. Took a bank loan of OMR 12,000 from Bank Muscat January 4 2019 Owner withdrew cash for his personal use OMR..... January 5 2019 Purchased goods on credit from Oman Traders OMR 5,000 January 6 2019 Purchased Machinery on credit from Salim OMR 20,000 January 7 2014 Paid ABC company OMR 500 January 8 2019 Sold goods on Credit OMR 2000 to Mr. Jasim January 9 2019 Received the money due for goods sold on credit. Paid to Oman Traders OMR 2000. January 10 2019 NOTE. 1. The amount for transaction 1 shall be any Amount you wish above OMR 50000. 2. The amount for transaction 2 shall be any Amount you wish between OMR 5000 and 10000 3. Please see that the amount you select shall not be the same as that of your friends. Submit the assignment on or before 31st October 2020 through E-Learning. 5. Late submissions are not encouraged as it may cause the reduction of marks. 6. Maximum marks for this activity shall be 5