On 1 April 2022, Naomi Duncan opened a car hire business called Cars R Us Pty Ltd. Naomi has discussed opening the new business with an accountant friend who has recommended utilizing the following account titles and numbers for recording the business transactions.

Account no.	Account Description
101	Cash at bank
102	Accounts receivable
110	Supplies
120	Equipment
130	Motor vehicles
201	Accounts payable
210	Bank loan payable
301	Share capital
401	Revenue
510	Rent expense
520	Insurance expense
530	Fuel expense
540	Bank charges

Listed below are the transactions which have been entered into by the company during the month ended 30 April 2022 (ignore GST).

April	1		Issued shares to investors for $500,000 cash.
	2		Monthly rent expense for the premises of $1,200 was directly debited from the bank account.
	4		Purchased eight motor vehicles costing $50,000 each and equipment costing $26,000. $250,000 cash was withdrawn from the business bank account to pay for the cars and a bank loan to be paid back in 4 years time was taken out for the balance.
	5		Purchased supplies costing $12,500 on credit.
	15		Recorded revenue for the first half of the month of $24,600 deposited to the business bank account in cash and $48,500 on credit.
	18		Paid for the supplies purchased on 5 April by transfer from the business bank account.
	19		Paid insurance expense for April of $5,000 by transfer from the business bank account.
	24		Received cash of $18,400 from customers who had purchased in the previous month on credit. This cash was deposited to the business bank account.
	27		Purchased supplies costing $4,200 on credit.
	30		Recorded revenue for the second half of the month of $32,500 deposited to the business bank account in cash and $25,800 on credit.
	30		Recorded fuel expense of $8,200 paid by transfer to Caltex from the business bank account.

Bank statement for Cars R Us Pty Ltd for the month ended 30 April 2022
Issued by Banking Is Us Ltd
Statement Number 113
Account Number 145789 22887
Closing Balance 298,570.00
Date	Description	Payments	Receipts	Balance
	Opening balance			0.00
1 Apr	Capital contributed		500,000.00	500,000.00
2 Apr	Direct debit Commercial Landlord	1,200.00		498,800.00
4 Apr	Motor Vehicle and Equipment	250,000.00		248,800.00
15 Apr	Cash deposit		24,600.00	273,400.00
18 Apr	Transfer to Officeworks	12,500.00		260,900.00
19 Apr	Transfer to Insurance Specialists	5,000.00		255,900.00
24 Apr	Cash deposit		18,400.00	274,300.00
30 Apr	Cash deposit		32,500.00	306,800.00
30 Apr	Transfer to Caltex	8,200.00		298,600.00
30 Apr	Statement and bank charges	30.00		298,570.00

1. Prepare the journals for the April transactions. Narrations are not required and no depreciation adjustment or other adjusting entries are necessary. No new general ledger accounts are required to be established or added to the chart of accounts.

2. Post all the journals from (1) above to the general ledger and prepare a trial balance as at 30 April 2022.
3. Prepare the following for Cars R Us Pty Ltd:

1. Statement of Profit or Loss for the month ended 30 April 2022.
2. Calculation of retained earnings for the month of April 2022.

Classified Statement of Financial Position as at 30 April 2022.