Exercise 5 The following list of transactions relates to the business of Peter Gold, furniture supplier, during the month of April. Date Apr 1 Apr 2 Apr 4 Apr 6 Apr 7 60,000 20,000 12,000 8,500 7,000 Apr 11 7,000 Apr 14 Apr 17 Business Transactions and events (nature of entity: wholesale) The owner pays cash into a bank account for the business The business acquires buildings for cash The business acquires equipment for cash The business purchases an inventory of goods for cash The business purchases an inventory on credit from R. Green and receives an invoice The business pays R. Green in cash for the goods it acquires on credit The business pays a gas bill in cash Items costing $5,500 are removed from the store because sales have been agreed with customer for this date The business sells some of the goods removed from the store for cash of $6,000 The business sells the remainder of the goods removed from the store on credit to P. Weatherall and sends an invoice P. Weatherall pays in cash for the goods obtained on credit The owner draws cash from the business for personal use The business pays wages to employees for the past month, in cash The business discovers that its equipment has fallen in value over the month. 400 5,500 Apr 17 6,000 Apr 17 4,200 Apr 24 Apr 28 Apr 29 Apr 30 4,200 2,700 2,800 550 Require: a) Use spreadsheet to analyze the transaction. b) Prepare: 1) Balance Sheet 2) Profit and Loss statement 3) Cash flow statement