Question #1 (57 marks) Bonnie Birch owns and operates a Batting Cage business in LA, called "Bonnie's Batting Cage". Here are the account balances as of November 30th: Bank Loan Payable $45 000 A/P-Ewert Equipment $32 000 A/R - Infield Flyers $3 300 Cash $56 450 A/P- Cannon Sports $20 000 A/R - Remdal Red Sox $1 500 $52 000 Sport Supplies A/P- Sandhu Sporting Goods $13 500 Equipment $2 500 B. Birch, Capital Nov 30 $27 250 **** You will have to create new accounts. I provided the exact amount of T-Accounts you will need. Instructions: 1) Using the existing accounts and balances above, open your ledger using the T-Accounts provided below. 2) Record the transactions below in your T-Account Ledger (they are on the next page) 3) Using your T-Account Ledger, calculate the ending balances in the accounts. (2,3,4 or 5 marks for a total of 47 marks) 4) Create a Trial Balance (10 marks) Transaction List 4 4 5 December 1 B. Birch, the owner, invested $40 000 in the business. Sold a team membership to the Infield Flyers for $13 000 on account. It is expected to be paid in 15 days. Borrowed $45 000 from the Bank, which was deposited in the business' bank account Bonnie used part of the Bank Loan to pay off the entire balance at Cannon Sports Paid $7 500 to Turtle Dove Properties Ltd. for the monthly rent. Purchased Land for $200 000 to eventually upgrade the business. She paid a down payment of S40 000. A 25 year mortgage was approved for the remaining balance. Purchased $1 500 worth of bats, helmets, and other sports supplies from 12 Sandhu Sporting Goods on account. + 13 Infield Flyers paid off their entire amount owing. Bought pitching machines from Ewert Equipment for $12 000 on account and 15 have 30 days to pay 20 Bonnie withdrew $2 000 from the business for extra Holiday shopping needs. Cash sales from Individual Batting Cage Revenue for the month totalled $72 31 000. 31 A count of the remaining sports supplies left was equal to $9 600. Cash A/R - Infield Flyers A/R - Remdal Red Sox - Sports Supplies Equipment A/P - Ewart Equipment A/P - Cannon Sports A/P-Sandhu Sporting Goods Bank Loan Payable B. Birch, Capital TRIAL BALANCE TEMPLATE (10 marks)