Task 4 Extract a trial balance at January 31, 2022 The following information is also available for January 31,2022 1 Wanna Be Rich Trading uses the accruals basis to prepare its books of accounts. 2 Wanna Be Rich Trading adopts a depreciation policy to depreciate all non-current assets at the rate of 1% per month on a straight-line basis. 3 The bank loan attracts an interest of 24% per annum, payable every six months on June 30 and December 31 each year. 4 Richie Richer gave a personal friend clothes valuing $25,000 5 A manual stock count revealed that on January 31, 2022, Wanna Be Rich Trading has closing inventory of $60,000. 6 Richie Rich received a bank statement from his bankers on Jan. 31, 2022 (Appendix 1) Sign in to edit and save changes to this file. Appendix 1 - Bank Statement from BNI Sign in to edit and save changes to this file. Required: Task 1 Journalize the opening balances for Richie Richer on January 1, 2022 and calculate the figure for capital [3] Task 2 Journalize the above transactions in the general ledger (no narrations required) for the month of January 2022 [18] Task 3 Post the transactions to the ledger accounts [43.5] Task 4 Extract a trial balance at January 31,2022 [12.5] The following information is also available for January 31,2022 1 Wanna Be Rich Trading uses the accruals basis to prepare its books of accounts. 2 Wanna Be Rich Trading adopts a depreciation policy to depreciate all non-current assets at the rate of 1% per month on a straight-line basis. 3 The bank loan attracts an interest of 24% per annum, payable every six months on June 30 and December 31 each year. 4 Richie Richer gave a personal friend clothes valuing $25,000 5 A manual stock count revealed that on January 31, 2022, Wanna Be Rich Trading has closing inventory of $60,000. 6 Richie Rich received a bank statement from his bankers on Jan. 31, 2022 (Appendix 1) Task 5 Prepare the updated Cash Book at January 31,2022 [7.5] Task 6 Reconcile the bank account balance with the bank statement balance on January 31,2022 [4.5] Task 7 Journalize all adjusting entries, taking into account entries from the bank statement as well as any accrual or prepayment during the month of January 2022 Task 8 Prepare the statement of Profit or Loss for the period ending January 31, 2022 [11] Task 9 Prepare the Statement of Financial Position on January 31, 2022 [14] Presentation [3] Task 4 Extract a trial balance at January 31, 2022 The following information is also available for January 31,2022 1 Wanna Be Rich Trading uses the accruals basis to prepare its books of accounts. 2 Wanna Be Rich Trading adopts a depreciation policy to depreciate all non-current assets at the rate of 1% per month on a straight-line basis. 3 The bank loan attracts an interest of 24% per annum, payable every six months on June 30 and December 31 each year. 4 Richie Richer gave a personal friend clothes valuing $25,000 5 A manual stock count revealed that on January 31, 2022, Wanna Be Rich Trading has closing inventory of $60,000. 6 Richie Rich received a bank statement from his bankers on Jan. 31, 2022 (Appendix 1) Sign in to edit and save changes to this file. Appendix 1 - Bank Statement from BNI Sign in to edit and save changes to this file. Required: Task 1 Journalize the opening balances for Richie Richer on January 1, 2022 and calculate the figure for capital [3] Task 2 Journalize the above transactions in the general ledger (no narrations required) for the month of January 2022 [18] Task 3 Post the transactions to the ledger accounts [43.5] Task 4 Extract a trial balance at January 31,2022 [12.5] The following information is also available for January 31,2022 1 Wanna Be Rich Trading uses the accruals basis to prepare its books of accounts. 2 Wanna Be Rich Trading adopts a depreciation policy to depreciate all non-current assets at the rate of 1% per month on a straight-line basis. 3 The bank loan attracts an interest of 24% per annum, payable every six months on June 30 and December 31 each year. 4 Richie Richer gave a personal friend clothes valuing $25,000 5 A manual stock count revealed that on January 31, 2022, Wanna Be Rich Trading has closing inventory of $60,000. 6 Richie Rich received a bank statement from his bankers on Jan. 31, 2022 (Appendix 1) Task 5 Prepare the updated Cash Book at January 31,2022 [7.5] Task 6 Reconcile the bank account balance with the bank statement balance on January 31,2022 [4.5] Task 7 Journalize all adjusting entries, taking into account entries from the bank statement as well as any accrual or prepayment during the month of January 2022 Task 8 Prepare the statement of Profit or Loss for the period ending January 31, 2022 [11] Task 9 Prepare the Statement of Financial Position on January 31, 2022 [14] Presentation [3]