This paper has addressed analytically the problem of laminar flow in microchannels with rectangular cross-section subjected to a time-dependent sinusoidal pressure gradient and a sinusoidal electric field. The analytical solution has been determined based on the Debye-Hückel approximation of a low surface potential at the channel wall. We have demonstrated that Onsager's principle of reciprocity is valid for this problem. Parametric studies of streaming potential have shown the dependence of the electroviscous effect not only on the Debye length, but also on the oscillation frequency and the microchannel width. Parametric studies of electroosmosis demonstrate that the flow rate decreases due to an increase in frequency. The obtained solutions for both the streaming potential and electroosmotic flows become those for flow between two parallel plates in the limit of a large aspect ratio.