1) Write up a two-column cash book for Sam Trading LLC from the following: (4 Marks) Date Transactions 1-11-2020 Sam puts capital into a bank account for the business, OMR 25000. 12-11-2020 Withdrew OMR 1400 from the bank for private use. 14-11-2020 Withdrew OMR 2000 from the bank for business use. 17-11-2020 Paid rent by cheque OMR 300. 18-11-2020 Received interest by cheque OMR 400. 25-11-2020 Cash sales OMR 12000. 28-11-2020 Paid wages by cheque OMR 5000.

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is