Question: Flag question Mr. John started an Electrical Shop, Prove the accounting equation by balancing the following items during August 2019 Capital OMR 28,500; Accounts Payable




Flag question Mr. John started an Electrical Shop, Prove the accounting equation by balancing the following items during August 2019 Capital OMR 28,500; Accounts Payable OMR 3,500; Inventory OMR 20,000; Accounts Receivable OMR 1,450; Rent paid in advance OMR 550; Cash at bank OMR8,000; Cash in hand OMR 3,000. Commission Received in Advance OMR 1,000 [4 Marks) Recorded by mobizen During the first week of August 2019, if the following transaction takes place how the accounting equations changes: He bought Furniture for OMR 900. [3 Marks) One of the customer paid him OMR 1,000 by cheque (3 Marks) You are required to prove the accounting equation as on August 2019 after completing the above transactions. (Use the following tables] Recorded by mobizen maintin OMAD Iamaunt in AMD Ranital liabilitiae Assets Amount in OMR Capital + Liabilities Amount in OMR Total Total Recorded by mobizen He bought Furniture for OMR 900. Assets Amount in OMR Capital + Liabilities Amount in OMR Total Total Recorded by mobizen One of the debtors paid him OMR 1,000 by cheque Assets Amount in OMR Capital + Liabilities Amount in OMR Total Total Recorded by mobizen
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