Q2. Sledge Rental Services was established on June 1, 2021. The following transactions took place during the first month of business.

2021

June 1 Mr. Sledge invested Tk.80,000 cash in the business.

8 Purchased equipment for Tk.10,000 of which 80% paid is cash and rest payable on notes. 10 Revenues earned for services performed are worth Tk.20,000 where 4/5 of the amount is received in cash and the remaining is due.

18 Received Tk.5,000 cash in advance as rent from tenant.

20 Salaries expense Tk.10,000 and utilities expense Tk.2,000 accrued for the month.

Requirements: Prepare the followings using the transactions above:

i) Journal entries for the month of June (ignore explanations)

ii) Ledger

iii) Trial Balance

iv) Income Statement

v) Owners Equity Statement

vi) Balance Sheet