DONE Bikes R Us is a recently formed company who commenced business on 1 December 2018 On 1 December their ledger balances were as follows: Account Name Balance $ Cash at Bank 100.000 Owners Capital Contributed 100.000 Bikes R Us buy and sell three bike models as described below. All prices include GST Bikes R Us use a perpetual inventory system. Bike Buy price Sell Price Supplier Hybrid Bike 100 150 Bikes Unlimited, Melbourne Road Bike 150 180 Bikes Unlimited, Melbourne BMX Bike 7 5 125 BMX World, Bundoors Details of inventory items During the month of December the following transactions occurred: Date Details 1" December Purchased 30 hybrid and 20 road bikes from Bikes Unlimited. They deliver the bikes on 24 December along with an invoice numbered Inv0034 and give you 7 days to pay their account. 1" December Purchased 15 BMX bikes from BMX World. They deliver the bikes on 2 December along with an invoice numbered Inv0158 and give you 14 days to pay their account 6 December Sold 5 hybrid bikes, 8 road bikes, and 2 BMX to Smiths Bicycles, Fitzroy. You deliver the bikes and the invoice. They pay you cash on delivery 7 December Sold 10 hybrid bikes to Lotsa Bikes. You deliver the bikes and the invoice and give them 7 days to pay 9 December Paid $6,000 to Bikes Unlimited 14 December Received $1,000 from Lotsa Bikes 16 December Paid $1,125 to BMX World 18 December Paid $3,000 for a month's rent of your shop. GST is not payable on this rental contract. 28 December Purchased 10 hybrid and 5 road bikes from Bikes Unlimited. They deliver the bikes on 28 December along with an invoice numbered Inv0068 and give you 7 days to pay their account 31" December Sold 15 hybrid bikes to Lotsa Bikes. You deliver the bikes and the invoice and give them 7 days to pay il vodafone AU 25% D 11:14 pm Ims.latrobe.edu.au A debt to total assets ratio of 80% Copy Look Up Share... O a means that 20% of investment in assets has been provided by lenders. o O b. is undesirable for creditors. c. is desirable for creditors. O d. is likely to be supported by cyclical entities that have fluctuating profits, such as many high-tech companies. Question 5 Not yet answered Marked out of 1.00 P Flag question Customarily, a trial balance is prepared: Select one: a. at the end of each day. O b. after each journal entry is posted