Task 2 Brief and Guidance Joe Borg decided to open a company called Toys4You Limited on I January 2018. The principle activity of the Company is to manufacture children's toys and sell them from his warehouse in Bugibba. His warehouse is rented out and he pays a rental charge every month. He has a few employees working in the manufacturing and delivery of the toys. He handles all sales to customers. He has bought 2 vans to deliver the toys and some machinery to be able to assemble the toys together. He has just closed off his first six months of business on 30 June 2018 and has not recorded any transactions so far. However, he is very organized and has kept a log of all the transactions that took place on a monthly basis. He has offered you a job to work for him as an Accounts Executive. He has passed on all the information to you and has asked you to record all the transactions manually (using the appropriate T accounts). He is curious as to whether his business has so far been profitable or not and has therefore asked you to draft a set of financial statements for the first 6 months of his business.

Joe Borg has asked you to record the following transactions which have taken place in the first 6 months Of trade of Toys4You in the appropriate T accounts, balance Off the accounts as at June and draw up a Trial Balance as at 30 June 2018.

Joe Borg has asked you to record the following transactions which have taken place in the first 6 months of trade of Toys4You in the appropriate T accounts, balance off the accounts as at 30 June and draw up a Trial Balance as at 30 June 2018. Date Details 1 January Joe invested an amount of (3,500 cash into the Company. 2 January Deposited (2,800 of the cash invested into the Company's bank account. 3 January Bought goods for cash (150 4 January Bought goods on credit from L Coke (360, M Burton (490, T Hill (110, C Small (340. 5 January Bought stationery on credit from Swift Ltd (170 5 January Bought machinery on credit from Metalon Ltd: C480 8 January Sold goods on credit to: 5 Walters (90, T Binns (150, C Howards (190, P Peart (160, J Smart C115 8 January Paid rent by cheque (55 15 January Bought van by cheque C700 16 January Received loan from J Henry (6,000 by cheque 21 January Cash Sales (90 24 January Sold goods on credit to: T Binns (100, P Peart (340, J Smart C115 26 January We paid the following by cheque M Burton (450, T Hill (110 29 January Received cheques from: J Smart C115, T Binns (150, P Peart C160 30 January Received a further loan from J Henry cash (200 30 January Paid salaries & wages (2,000 by cheque 1 February Bought more machinery from Metalon Led on credit: (500 2 February Bought more goods on credit from L Coke C480, M Burton C180, T Hill (100, C Small C240. 4 February Cash sales of C250 8 February Sold goods on credit: S Walters (100, T Binns (120, C Howards (140, P Peart (300, J Smart (150 10 February Cash sales of C850 25 February Bought Stationery worth 630 by cash 28 February Paid salaries and wages C2,000 by cheque 1 March Paid for water & electricity C150 by cash 3 March Deposited cash into the bank: C2,000 5 March Bought more goods on credit from L Coke C140, T Hill C15010 March Paid by cheque: L Coke (200, T Hill 150, M Burton (80 15 March Cash sales (500 20 March Bought another van on credit from DriversRus 6800 30 March Paid salaries & wages (2,000 by cheque 1 April Paid rent by cheque (110 5 April Bought goods on credit from T Hill (400 6 April Cash sales (60 7 April Bought stationery worth $50 by cash 8 April The owner Joe Borg invested a further (4,000 cash into the business 15 April Sold on credit to T Binns (100, C Howards (1,040 20 April Cash sales (100 28 April T Binns paid the Company (220 by cheque 30 April Paid salaries and wages 2,000 by cash 2 May Paid rent (55 by cheque 10 May Cash sales (1,500 OP 11 May Bought goods on credit from L Coke (140, M Burton (280, T Hill (120, C Small (40. 15 May Bought stationery by cash (15 20 May Cash sales (1,000 29 May Paid salaries and wages (2,000 by cash 1 June Bought goods on credit from M Burton (230, T Hill (90 8 June Cash sales (600 11 June Deposited (600 cash into the bank account 15 June Paid C165 rent by cheque 20 June Paid C150 for repairs and maintenance of the Machinery by cheque 25 June Cash sales (2,050 26 June Deposited (2,000 cash into the bank account 30 June Paid C2,000 salaries and wages by cheque