Assume that a relatively new company you and you group members are involved wilth has presented you with thefollowing transactions for 2021 from the books of the business. This company operates one bank account to reflectall cash and cheque transactions. You are now required to read these transactions carefully then prepare the relevantdocuments and books as outlined in the requirements below.1 AugStarted business with $150, 000 in the bank3 AugBought supplies on credit from Right Way Manufacturers24 Boxes Air Filter96 Bottles fuel injector cleaner48 Boxes Spark Plug36 Boxes Brake Shoe$720.00 per box$200.00 per bottle$300.00 per box$580.00 per box$400.00 per boxe24 Boxes Disc Padsx5 AugProvided services for cash less 10% discount12 small motorbike engines6 large motorbike engines (ful service)8 medium size motorbike engines (full service)$350.00 per engine$950.00 per engine$a00.00 per engine7 AugPaid Rent by cheque$5,000.0010 AugPaid Wages by cheque$8,000.0010 Aug$3,500.00Bought Fixtures from CT Limitedpaying by cashProvided servioes on credit to Auto Care.24 small motorbike engines8 large motor bike engines (partial service)12 medium size motorbike engine (partial service)11 Aug$350.00 per engine$650.00 per engine$550.00 per engine12 AugBought Fixtures on credit from CT Ltd$8,000.0013 AugReceived a loan from NBC cash$25,000.0014 AugProvided services on credit to P&S Auto18 Large motorbike engines (full scrvice)12 medium size motor bike engines24 medium size motorbike engines20 small motortbike engines$950.00 per engine$650.00 per engine$550.00 per engine$350.00 per engine21 AugPaid CT Ltd by cheque$3,000.0022 AugPaid wages cash$3,000.0023 AugPaid Right Way Manufacturer the amount owing to themby cheque, they allowed us a 15% discount27 AugP&S Auto paid the amount owing by them inCash less 10 % discount27 AugElectricity paid by cash$1,500.0028 AugThe owner took $5000 out of the bank for his personal use.Provided services for cash12 small motorbike engines6 medium size motorbike engines4 modium size motor bike engines28 Aug$350.00 per engine$550.00 per engine$a00.00 per engineBought supplies on credit from big J Manufacturers4 Bottles Fuel Injector Cleaner9 Boxes Air Filtersa Boxes Sparks Plugs29 Aug$200.00 per bottle$720.00 per box$300.00 per box30 AugProvided service for cash8 smal motorbike engines7 Large motorbike enginesa Medium matorbike engines$350.00 per engine$950.00 per engine$550.00 per engine31 AugSupplies on hand5 Boxes Air Filter6 Botties fuel injector cleaner12 Boxes Spark Plug13 Boxes Brake Shoe9 Boxes Disc Pads$720.00 per box$200.00 per bottle$300.00 per box$580.00 per box$400.00 per boxxTo avoid duplication of account names and the use of improper account names, the company has provided the followinglist of accounts used to record its transactions as extracted from its chart of accounts:CapitalCashSuppliesRight Way ManulacturersJ ManufacturersP&S AutoCT LtdService RevenuGDiscount AllawerdRent ExpenseWages ExpenseSupplies ExpenseFixturesАulo CareLoan NBCDiscount ReceivedElectricity ExpenseDrawings B. Record the transactions stated above in the general journal.C. Post the transactions to the general ledger and balance off each accountD. Extract a trial balance on August 31st.E. Prepare an Income Statement for the month ended August 31st, the owner's equity statement and a Balance Sheetas at that date

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Assume that a relatively new company you and you group members are involved wilth has presented you with the folowing transactions for 2021 from the books of the business. This company operates one bank account to reflect all cash and cheque transactions. You are now required to read these transactions carefully then prepare the relevant documents and bocks as oullined in the requirements below. 1 Aug Started business with $150, 000 in the bank 3 Aug Bought supplies on credit from Right Way Manufacturers 24 Boxes Air Filter 96 Boltles fuel injector cleaner 48 Boxes Spark Plug 36 Boxes Brake Shoe 24 Boxes Disc Pads $720.00 per box $200.00 per bottle $300.00 per box $580.00 per box $400.00 per box 5 Aug Provided services for cash less 10% discount 12 small motorbike engines 6 large motorbike engines (ful service) 8 medium size motorbike engines (tfull service) $350.00 per engine s950 00 per engine sa00.00 per engine 7 Aug Paid Rent by cheque $5,000.00 10 Aug Paid Wages by cheque $3,000.00 Bought Fixtures from CT Limited paying by cash 10 Aug $3,500.00 11 Aug Provided services on credit to Auto Care. 24 small motorbike engines 8 large motor bike engines (partial service) 12 medium size motorbike engine (partial service) $350.00 per engine $650.00 per engine $550.00 per engine 12 Aug Bought Fixtures on oredit from CT Lid s8.000.00 13 Aug Received a loan from NBC cash $25,000.00 14 Aug Provided services on credit to P&S Auto 18 Large motorbike engines (full scrvice) 12 medium size motor bike engines 24 medium size motorbike engines 20 small motorbike engines $950.00 per engine $650.00 per engine $550.00 per engine $350.00 per engine 21 Aug Paid CT Lid by cheque $3,000.00 22 Aug Paid wages cash $8,000.00 23 Aug Paid Right Way Manufacturer the amcunt owing to them by cheque, they allowed us a 15% discount P&S Auto paid the amount owing by them in Cash less 10 % discount 27 Aug 27 Aug Electricity paid by cash $1,500.00 28 Aug The owner took $5000 out of the bank for his personal use. Provided services for cash 12 small motorbike engines 6 medium size motorbike engines 4 medium size motor bike engines 28 Aug $350.00 per engine $550.00 per engine $a00.00 per engine 29 Aug Bought supplies on credit from big J Manufacturers 4 Bottles Fuel Injector Cleaner 9 Boxes Air Filters 8 Boxes Sparks Plugs $200.00 per botle $720.00 per box $300.00 per box 30 Aug Provided service for cash 8 smal motorbike engines 7 Large motorbike engines 8 Medium matorbike engines $350.00 per engine $950 00 per engine $550.00 per engine 31 Aug Supplies on hand 5 Boxes Air Filter 6 Bottles fuel injector cleaner 12 Boxes Spark Plug 13 Boxes Brake Shoe 9 Boxes Disc Pads $720.00 per box $200.00 per boltle $300.00 per box $580.00 per box $400.00 per box To avaid duplication of account names and the use of improper account names, the company has provided the folowing list of accounts used to record its transactions as extracted from its chart of accounts: Capital Cash Supplies Right Way Manufacturers J Manufacturers P&S Auto CT Ld Service Revenue