Wanna Be Rich Trading, owned by Richie Richer, sells casual wear for both men and women. He ended trading on December 31,2021 with the following assets and liabilities: During the month of January 2022, the following transactions occurred: Jan I Rented premses for $50,000 per month. Wanna Be Rich Trading paid $150,000 for the first quanter to March 31,2022 by cheque. Jan 2 Purchased inventory work $80,000 on credit from Already Rich Ltd Jan 2 Sold a quarter of the inventory for $40,000 cash), funds lodged immedately Jan 7 Paid cheque to Already Rich Lid for half the goods purchased on Jan 2 . Jan 8 Paid insurance for Jan $7,500 by cheque Jan 14 Sold the remaining inventorv for credit as followc: Jan 16 Purchased goods on credut from All Traders Co. $160,000 Jan 17 Sold good for cash $75,000 Jan 18 Purchased computer equipment for $30,000 by cash Jan 21 Sold half the inventory for $100,000 cash, funds lodged immediately Jan 25 Rich Richer withdraws $10,000 from the bank for use in the business. Jan 31 Purchased office supplies costing $3,500, cash. Jan 31 Paid shop assistant wages $25,000 by cheque Jan 31 Paid electricity bill for Richie Richer's mother in cash $15,000 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 Richic 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) Wanna Be Rich Trading, owned by Richie Richer, sells casual wear for both men and women. He ended trading on December 31,2021 with the following assets and liabilities: During the month of January 2022, the following transactions occurred: Jan I Rented premses for $50,000 per month. Wanna Be Rich Trading paid $150,000 for the first quanter to March 31,2022 by cheque. Jan 2 Purchased inventory work $80,000 on credit from Already Rich Ltd Jan 2 Sold a quarter of the inventory for $40,000 cash), funds lodged immedately Jan 7 Paid cheque to Already Rich Lid for half the goods purchased on Jan 2 . Jan 8 Paid insurance for Jan $7,500 by cheque Jan 14 Sold the remaining inventorv for credit as followc: Jan 16 Purchased goods on credut from All Traders Co. $160,000 Jan 17 Sold good for cash $75,000 Jan 18 Purchased computer equipment for $30,000 by cash Jan 21 Sold half the inventory for $100,000 cash, funds lodged immediately Jan 25 Rich Richer withdraws $10,000 from the bank for use in the business. Jan 31 Purchased office supplies costing $3,500, cash. Jan 31 Paid shop assistant wages $25,000 by cheque Jan 31 Paid electricity bill for Richie Richer's mother in cash $15,000 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 Richic 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)