On 1 October 2019, the owner of the UAE Venture, Mr Salem, decided that he will boldly go and keep his records on a double entry system. His assets and liabilities at that date were:

Fixtures and equipment 20,000

Inventory including weapons 15,000

Balance at Universe Bank 17,500

Cash 375

Account Payable Spock 3,175

Scott 200

McCoy 500

Salems transactions during October were as follows:

1 Sold faculty phasers (weapon) to Klingon Corp, for cash 5,000.

2 Bought Photon Torpedoes (weapons), on credit from Central Council 2,500.

3 Sold inventory to Aardvarks, on credit, 1,500.

4 Bought Cloaking Device (Fixture and Fittings) from Klingon Corp 3,500 on credit.

5 Paid the balance owed to Spock at 1 October.

6 Paid Central Council full amount due by cheque.

7 Received full amount due from Aardvarks by cheque.

8 Paid Klingon Corp by cheque.

9 Paid, by cheque, 10,000 for repairs to Enterprise.

Required:

1. Calculate the beginning capital 1 October, 2019.
2. Post transactions to relevant T accounts.
3. Prepare journal entries for the relevant transactions.
4. Extract the trial balance at the end of October, 2019.