TASK 2: Xero application PART A -10 marks You are required to use the item application to record the following transactions for the first month of operation of Bikes R Us. Manual recording of the transactions in part A is not accepted. To submit this task, you are required to prepare and submit the following documents. Ajournal report for September 2023. Order the journal report by the date of the transaction. A Trial balance as of 30 September 2023. A Balance Sheet as of 30 September 2&23. A profit and Loss statement for 30 September 2023. A written report evaluating the financial performance of the compani,l during its rst month of the operation. P'F'WE'JH PART B - 10 marks Record the following transactions manually for month of September, prepare trial balance, balance-sheet and the income statement for September 2023. | Bikes R Us is a recently formed company who commenced business on 15 September 2023. On 1 September their ledger balances were as follows: Account Name Balance $ Cash at Bank $200,000 Owners Capital Contributed $200,000 Bikes R Us buy and sell three bike models as described below. All prices include GST. Bikes R Us use a perpetual inventory system. Bike Buy price (incl. GST) | Sell Price (incl. GST) Supplier Hybrid Bike $220 $594 Bikes Unlimited, Melbourne Road Bike $165 $286 Bikes Unlimited, Melbourne BMX Bike $88 $198 BMX World, Bundoora Details of inventory itemsDuring the month of September, the following transactions occurred: Date Details 1st September Bikes R Us Purchased 30 hybrid and 20 road bikes from Bikes Unlimited on credit. They deliver the bikes on the same date along with an invoice numbered Inv0034. 2nd September Bikes R Us returned 3 faulty hybrid and 2 faulty road bikes to Bikes unlimited and received credit. 2nd September Bikes R Us Purchased 15 BMX bikes from BMX World on credit. They deliver the bikes on the same date along with an invoice numbered Inv0158. 3'd September Bikes R US returned 4 faulty BMX bikes to BMX World and received credit. 6th September Sold 5 hybrid bikes, 8 road bikes, and 2 BMX to Smiths Bicycles, Fitzroy, terms 2/15, n/30. You deliver the bikes on the same date. 7th September Bikes r Us granted credit to Smiths Bicycles, Fitzroy for 2 hybrid bikes returned. Office Dictation 8th September Sold 10 hybrid bikes to Lotsa Bikes, terms 3/15, n/30. 9th September Bikes R US granted credit to Lotsa bikes, for 2 hybrid bikes returned. 9th September Bikes R Us paid Bikes Unlimited in full. 10th September Bikes R Us paid BMX world in full. 12th September Bikes R Us received payment in full from Smiths Bicycles Fitzroy, less discount. 14" September Bikes R Us received payment in full from Lotsa Bikes, less discount.September Sold 10 hybrid bikes to Lotsa Bikes, terms 3/15, n/50. 9th September Bikes R US granted credit to Lotsa bikes, for 2 hybrid bikes returned. 9th September Bikes R Us paid Bikes Unlimited in full. 10th September Bikes R Us paid BMX world in full. 12th September Bikes R Us received payment in full from Smiths Bicycles Fitzroy, less discount. 14th September Bikes R Us received payment in full from Lotsa Bikes, less discount. 25th September Bikes R Us purchased 10 hybrid and 5 road bikes from Bikes Unlimited. Bikes R Us paid 40% of the required amount and agreed pay the rest on 25" October. 28th September Bikes R Us Sold 15 hybrid bikes to Lotsa Bikes. Lotsa bikes paid 30% of the required amount and agreed to pay the rest on 28th October. 30th September Paid $3,300 incl. GST for a month's rent of your shop. Use XERO to: a) Record the September transactions. b) Prepare a Trial Balance as of 30 September. c) Prepare a Statement of Profit or Loss for September 2023. d) Prepare a Statement of Financial Position as of 30 September 2023. e) Evaluate the financial performance of the Bike R US during its first month of operation