Carry out the activities as required below.

a. Enter the following transactions in the general journal of Oscar Ltd. On 2 April, Ms. R. Kramer established an entity ‘Oscar Ltd’ with a cash investment of €260,000. On the 3 April, the established company purchased land for its office site for €77,000. Oscar Ltd also purchased a prefabricated building for the office site on 5 April for €144,000.

On 15 April, the management of Oscar Ltd sold part of its office site land to Smite Fast Foods plc for €30,000 to be paid within three months. Oscar Ltd purchased office furniture from Delta Furniture Ltd on 17 April for €18,000 and computer equipment from Ascot-It Ltd for €7,650 on 18 April. Both these transactions were purchased on credit.

On 22 April, Smite Fast Foods made a part payment of €5,500 for land purchased from Oscar Ltd. On 24 April, Oscar Ltd made a part payment of €9,000 to Delta Furniture Ltd for the office furniture and on 26 April, made a part payment of €4,000 to Ascot-It Ltd for the computer equipment.

b. Post the above journal entries to the proper ledger accounts.

c. Take a trial balance of the transactions posted to the ledger accounts.

d. Show the financial position of Oscar Ltd.