After three months of operations, Mr. John Dazzle has asked you to prepare the books for Razzle Dazzle Hotel and Resort as he has a progress meeting with the financial institution. The transactions that occurred are as follows:

2020

Jan 1 John Dazzle invested $3,000 cash and $15,000 of equipment in Razzle Dazzle Hotel and Resort.

Jan 2 Paid $600 cash for furniture for the hotel.

Jan 3 Paid $500 cash rent.

Jan 4 Purchased $1200 of Linens on credit for the entity from Linens R Us.

Feb 5 Cash payments from room sales were $825.00

Feb 15 Received a cheque for $100 for one night’s stay.

Feb 17 Received a cheque for $100 for one night’s stay.

Feb 20 Cash payment from room sales $930.

Feb 21 Paid $125 to an assistant for working overtime.

Mar 31 Paid $400 towards purchase made on January 4.

Mar 31 John withdrew $900 cash for personal use.

QUESTION (A): Open the following ledger accounts using the T-Account format. The P/R numbers are in parenthesis:

-Cash (101) -Dazzle, Capital (301)

-Accounts Receivable (102) -Dazzle, Withdrawals (302)

-Bank (103) -Sales Revenue (403)

-Furniture (161) -Wages Expense (623)

-Linens Expense (165) -Rent Expense (640)

-Linens R Us (240) -Equipment

(B) Prepare the general journal entries for the transactions to 31 March 2020.

(C) Post the journal entries from (B) to the ledger accounts

(D) Prepare a trial balance as at March 31, 2020

(E) Prepare an income statement for March 31, 2020

(F) Prepare a statement of owners’ equity for March 2020

(G) Prepare a balance sheet as of March 31, 2020