Covid- 19 has caused havoc globally and many people lost their jobs. Many businesses lave lost so much revenues and are yet to recover from the effects of the pandemic. Belire as a country is not exempted as many in the hospitality industry are atso affected. Many employees in the hospitality industry lost their jobs especially management positions. You, a June 2019 graduate was employed at a Well-known Resort in the Stanit creck District of Betiee on July 1, 2019 as the Manager following your graduation from the Univervity of Beline but lost your job doe to the pandemic. You started a restaurant in late 2020 in the Stana Creck District but due to low tourists visiting Belize, you had no choice but to close the business after a few months of operations: Having beard that the Government has cased off lock-down procedures in Belize City, you decided to start another Restaurant named "Eat Your Life Away" in the City on April 1, 202! and have entered the following transactions during the monch: On Apr. 1, you, the business owner donated the following assets to Eat Your Life Awayc cash, $20,000; accounts receivable, \$14,700; food supplies, \$3,300; and Kitchen Utensits, \$12,000. There were no liabilities received. On the same day. yoe paid three moeth" rent on a lease rental contract, $6,000. The following day, you paid the premiums on property and caswilty insurance policies, 54,200. On April 4, you received 59,400 cash from BTL whe had contracted you to supply food for its 50 cmployees for the month of April. As a resalt of this BTL contract, you purchased on the following day additional restaurant office equipment en account from Angelus Press foe 58,000 . On April 6, you received S11,700 eash from cussomers who were owing you from Stann Creck on account. Because of the competition in the City amongt restanant ewners, on April 10 you paid Amandala Newspapers $350 cash for a newspaper advertisenent to announce your presence in the city. On April 12, having received the moncy from your dectors in Stann Creek, you decided to pay Angelus Press $6,400 for part of the debt incurred on April 5. On the same day. you provided food worth \$21,900 to a major political party having a convention on acceunt for the period April I-12. Because of the bi-monshly paymernt agrecment winh your cock, you paid her salary for two weeks of $1,650. On April 17, you received cash froen cash customers foc foods sold during the period April 1-16. $6,600 and you paid cact for food supplies, $725 the following day. Having establashed that the political party is trustworthy, you provided additional foods en account for another rally held at the Bliss Center for the period Apeil 13-20,516,800. On April 24, you received cash from cash customers for food sold for the period April 17-24, \$4,450. On April 26. you received cash from the political party who bought food on account, $26,500. Being another two-weeks period, you puid your cook's twe weeks' salary of $1,650 on April 27. You paid your telephone bill of $540 for the moath of April on April 29 and BEL. bill of $760 the following day. On the last day of the nsoath, you received cach of 55.160 from cash customers for food sold for the period April 25-30, supplied food on account to BTL \& Digicel staff on account for the remainder of April, $2,590. Because you had to pay for personal expenser, you withdirew $18,000 for personal use Instructions The Belize Income Tax Department wishes to condect an audit of small businesses in Belize and "Eat Your Life Away" was selected as one of the businesses the Tas Department wishes to audit. Hence, it wants you to provide the following: 1. All the journal entries that you made during the month asing a two-column journal and would On the last day of the month, you received cash of $5,160 from cash customers for food sold for the period April 25-30, supplied food on account to BTL \& Digicel staff on account for the remainder of April, $2,590. Because you had to pay for personal expenses, you withdrew $18,000 for personal use. Instructions The Belize Income Tax Department wishes to conduct an audit of small businesses in Belize and "Eat Your Life Away" was selected as one of the businesses the Tax Department wishes to audit. Hence, it wants you to provide the following: 1. All the journal entries that you made during the month using a two-column journal and would like vou to use the following charts of accounts: 2. Post the journal to a ledger accounts. 3. Prepare an unadjusted trial balance. 4. At the end of April, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6). a. Insurance expired during April is $350. b. Food Supplies on hand on April 30 are $1,225. c. Depreciation of Kitchen Utensils for April is $400. d. Accrued Cook salary on April 30 is $275. e. Rent expired during April is $2,000. f. Unearned Revenue on April 30 are \$2,350. 5. Journalize and post the adjusting entries in (4) above. Record the adjusting entries on the journal. 6. Prepare an adjusted trial balance. 7. Prepare an income statement, a statement of owner's equity, and a balance sheet. 8. Provide a vertical analysis its description for your financial statements in question (7). 9. Provide 2 of each of the following: a. Liquidity ratio b. Solvency ratio c. Profitability ratio d. Investment Ratios e. Management ratio Covid- 19 has caused havoc globally and many people lost their jobs. Many businesses lave lost so much revenues and are yet to recover from the effects of the pandemic. Belire as a country is not exempted as many in the hospitality industry are atso affected. Many employees in the hospitality industry lost their jobs especially management positions. You, a June 2019 graduate was employed at a Well-known Resort in the Stanit creck District of Betiee on July 1, 2019 as the Manager following your graduation from the Univervity of Beline but lost your job doe to the pandemic. You started a restaurant in late 2020 in the Stana Creck District but due to low tourists visiting Belize, you had no choice but to close the business after a few months of operations: Having beard that the Government has cased off lock-down procedures in Belize City, you decided to start another Restaurant named "Eat Your Life Away" in the City on April 1, 202! and have entered the following transactions during the monch: On Apr. 1, you, the business owner donated the following assets to Eat Your Life Awayc cash, $20,000; accounts receivable, \$14,700; food supplies, \$3,300; and Kitchen Utensits, \$12,000. There were no liabilities received. On the same day. yoe paid three moeth" rent on a lease rental contract, $6,000. The following day, you paid the premiums on property and caswilty insurance policies, 54,200. On April 4, you received 59,400 cash from BTL whe had contracted you to supply food for its 50 cmployees for the month of April. As a resalt of this BTL contract, you purchased on the following day additional restaurant office equipment en account from Angelus Press foe 58,000 . On April 6, you received S11,700 eash from cussomers who were owing you from Stann Creck on account. Because of the competition in the City amongt restanant ewners, on April 10 you paid Amandala Newspapers $350 cash for a newspaper advertisenent to announce your presence in the city. On April 12, having received the moncy from your dectors in Stann Creek, you decided to pay Angelus Press $6,400 for part of the debt incurred on April 5. On the same day. you provided food worth \$21,900 to a major political party having a convention on acceunt for the period April I-12. Because of the bi-monshly paymernt agrecment winh your cock, you paid her salary for two weeks of $1,650. On April 17, you received cash froen cash customers foc foods sold during the period April 1-16. $6,600 and you paid cact for food supplies, $725 the following day. Having establashed that the political party is trustworthy, you provided additional foods en account for another rally held at the Bliss Center for the period Apeil 13-20,516,800. On April 24, you received cash from cash customers for food sold for the period April 17-24, \$4,450. On April 26. you received cash from the political party who bought food on account, $26,500. Being another two-weeks period, you puid your cook's twe weeks' salary of $1,650 on April 27. You paid your telephone bill of $540 for the moath of April on April 29 and BEL. bill of $760 the following day. On the last day of the nsoath, you received cach of 55.160 from cash customers for food sold for the period April 25-30, supplied food on account to BTL \& Digicel staff on account for the remainder of April, $2,590. Because you had to pay for personal expenser, you withdirew $18,000 for personal use Instructions The Belize Income Tax Department wishes to condect an audit of small businesses in Belize and "Eat Your Life Away" was selected as one of the businesses the Tas Department wishes to audit. Hence, it wants you to provide the following: 1. All the journal entries that you made during the month asing a two-column journal and would On the last day of the month, you received cash of $5,160 from cash customers for food sold for the period April 25-30, supplied food on account to BTL \& Digicel staff on account for the remainder of April, $2,590. Because you had to pay for personal expenses, you withdrew $18,000 for personal use. Instructions The Belize Income Tax Department wishes to conduct an audit of small businesses in Belize and "Eat Your Life Away" was selected as one of the businesses the Tax Department wishes to audit. Hence, it wants you to provide the following: 1. All the journal entries that you made during the month using a two-column journal and would like vou to use the following charts of accounts: 2. Post the journal to a ledger accounts. 3. Prepare an unadjusted trial balance. 4. At the end of April, the following adjustment data were assembled. Analyze and use these data to complete parts (5) and (6). a. Insurance expired during April is $350. b. Food Supplies on hand on April 30 are $1,225. c. Depreciation of Kitchen Utensils for April is $400. d. Accrued Cook salary on April 30 is $275. e. Rent expired during April is $2,000. f. Unearned Revenue on April 30 are \$2,350. 5. Journalize and post the adjusting entries in (4) above. Record the adjusting entries on the journal. 6. Prepare an adjusted trial balance. 7. Prepare an income statement, a statement of owner's equity, and a balance sheet. 8. Provide a vertical analysis its description for your financial statements in question (7). 9. Provide 2 of each of the following: a. Liquidity ratio b. Solvency ratio c. Profitability ratio d. Investment Ratios e. Management ratio