Prepare the T Accounts for Gleas Ice-Cream Emporium Ltd for October 2021, completing the balancing off for each Account.

Q1 The following transactions relate to Ikleara Ltd - during March 2022, which is its first month of business. The business has two shareholders James and Hazel and employs 23 members of staff. March Transaction 1 A bank loan of 310,000 was received from HSBC. One member of staff goes to WHSmith and pays 1,860 for stationery. An electricity invoice for 4,856 was received, to be paid for in 21 days. A purchase was made from Ross Ltd for 8,907 on 14 Day terms A purchase is received from supplier TD Ltd to be paid for in 10 Days for 21,698 A credit sale was made to Jacques plc on 21 days terms for 21,245 A credit sale was made to Wilkins plc, due in 14 days for 18,799 10 James invests 150,000 cash into the business. Cash sales of 7,159 were made to Williams Ltd. 12 The manager pays rent via DD of 14,618 per month. 13 A purchase of 14,859 was made from TD Ltd. An invoice for Business Rates was received for 9,715 to be paid on 31st March. James was unhappy with the quality of some product received and returned 32.5% of TD's Ltd's first delivery. 17 Hazel invested 175,000 into the business. 18 Vehicles are bought for 45,999 on 21 Day credit terms from TC Harrison Ltd. 19 BT sent a phone invoice of 11,614 to be paid for in 10 days. 20 Ikleara Ltd paid 255,000 for a Building to run the business from. 21 Cash Sales of 13,812 were made. 22 Invoice received for 75,000 for Equipment. This is due to be paid in 14 days time. 23 Credit sales were made to Wilkins plc for 17,309 23 There was another purchase on the same terms from Ross Ltd for 14,257 24 An invoice for water rates for 1,251 was received, to be paid in 10 days time. 25 Cash sales of 5,106 were banked 27 Staff are paid wages of 37,900 28 Hazel paid 3,500 for laptops to help run the business from PC World. 29 Another sale for 25,127 was made to Jacques plc on the same terms. 31 Williams sent back to you 22.5% of the sale from earlier in the month. 2|5|6|6|6|7|0|1|2|3|4|5 Q1 The following transactions relate to Ikleara Ltd - during March 2022, which is its first month of business. The business has two shareholders James and Hazel and employs 23 members of staff. March Transaction 1 A bank loan of 310,000 was received from HSBC. One member of staff goes to WHSmith and pays 1,860 for stationery. An electricity invoice for 4,856 was received, to be paid for in 21 days. A purchase was made from Ross Ltd for 8,907 on 14 Day terms A purchase is received from supplier TD Ltd to be paid for in 10 Days for 21,698 A credit sale was made to Jacques plc on 21 days terms for 21,245 A credit sale was made to Wilkins plc, due in 14 days for 18,799 10 James invests 150,000 cash into the business. Cash sales of 7,159 were made to Williams Ltd. 12 The manager pays rent via DD of 14,618 per month. 13 A purchase of 14,859 was made from TD Ltd. An invoice for Business Rates was received for 9,715 to be paid on 31st March. James was unhappy with the quality of some product received and returned 32.5% of TD's Ltd's first delivery. 17 Hazel invested 175,000 into the business. 18 Vehicles are bought for 45,999 on 21 Day credit terms from TC Harrison Ltd. 19 BT sent a phone invoice of 11,614 to be paid for in 10 days. 20 Ikleara Ltd paid 255,000 for a Building to run the business from. 21 Cash Sales of 13,812 were made. 22 Invoice received for 75,000 for Equipment. This is due to be paid in 14 days time. 23 Credit sales were made to Wilkins plc for 17,309 23 There was another purchase on the same terms from Ross Ltd for 14,257 24 An invoice for water rates for 1,251 was received, to be paid in 10 days time. 25 Cash sales of 5,106 were banked 27 Staff are paid wages of 37,900 28 Hazel paid 3,500 for laptops to help run the business from PC World. 29 Another sale for 25,127 was made to Jacques plc on the same terms. 31 Williams sent back to you 22.5% of the sale from earlier in the month. 2|5|6|6|6|7|0|1|2|3|4|5