Perfect Paws is dog parlour owned and managed by Brian Beagle. The entity began trading on 1 April 20X6. The following transactions relate to Perfect Paws for the month of April 20X6:

1. On 1 April, Brian Beagle opened a business bank account and contributed capital of C51 000 in cash to start the business.

2. On 1 April, Beagle arranged to rent premises, and Perfect Paws paid rent of C1 800 in advance for the months of April, May and June of 20X6.

3. On 1 April, Perfect Paws purchased grooming equipment as a cost of C30 000. The grooming equipment has an expected useful life of five years and no value at the end of its life.

4. On 1 April, Beagle took out an insurance policy and paid C3 000 for cover from 1 April 20X6 to 31 July 20X6.

5. On 3 April, Perfect Paws purchased supplies on credit costing C580.

6. During the week ended 9 April, Perfect Paws received C3 400 in cash for grooming services provided.

7. On 11 April, Perfect Paws paid for the supplies purchased on 3 April.

8. During the week ended 16 April, Perfect Paws completed grooming services for a poodle breeder on credit for C1 700.

9. On 17 April, Perfect Paws purchased additional supplies on credit costing C340.

10. On 20 April, Perfect Paws received cash of C600 in advance from a client to groom her show dogs once a month from April to June 20X6.

11. During the week ended 26 April, Perfect Paws completed grooming services including nail clipping and brushing for the Doodle Club on credit for C1 200.

12. On 27 April, Perfect Paws received C1 700 from the poodle breeder.

13. On 28 April, Perfect Paws paid the April telephone account of C80.

14. On 29 April, Perfect Paws paid the assistants salary of C650 for April.

15. On 29 April, Perfect Paws distributed cash of C1 000 to Brian Beagle.

16. On 30 April, Perfect Paws recognised the rent and insurance expense for April 20X6.

17. On 30 April, Perfect Paws recognised C200 income in respect of grooming the show dogs for the client in transaction 10.

18. On 30 April, Perfect Paws recognised the usage of the equipment for April 20X6.

19. On 30 April, Brian Beagle counted supplies on hand at the end of the month costing C520.

You are required to:

a. Record all of the above transactions in the journal of Perfect Paws.

b. Post the journal entries from (a) to the ledger of Perfect Paws.

c. Prepare a trial balance for Perfect Paws at 30 April 20X6.

d. Prepare the financial statements of Perfect Paws, including

• The statement of profit or loss (income statement) for the month ending 30 April 20X6
• The statement of changes in equity for the month ending 30 April 20X6
• The statement of financial position at 30 April 20X6