Beijing Ltd runs a small hotel that commenced trading on 1 March. The following transactions occurred during the month of March:

1 March Share capital of €50,000 was invested by the owners who also paid €5,000 on behalf of the business for its first month’s rent.

2 March Supplies were bought for the bar for €5,000 (with a cheque payment) and goods for the restaurant from Best Supplies Ltd for €1,500 (for later payment).

5 March Weekend takings from customers amounted to €3,750.

8 March Wages paid of €1,600 and general expenses of €400.

9 March Takings from restaurant and bar sales of €7,100 were banked.

10 March A private party was held for I. Dance and an invoice sent for €5,200.

15 March Wages of €2,300 were paid.

21 March Clean Company’s laundry bill for €700 was received.

25 March Best Supplies Ltd was paid but a further delivery of provisions costing €2,500 was received.

28 March Wages paid of €1,800.

30 March Takings from customers, €6,100, were banked.

You are required to:

(a) record the transactions in the accounts;

(b) calculate the final balance on each account at the end of the month;

(c) prepare a trial balance;

(d) draw up a simple income statement and balance sheet as at 31 March.