You are provided with the following financial information for Nicks Seafood restaurant.

June 1 The owner invested $150,000 cash into the business to start a new restaurant. The owner also invested in addition to the $150,000 cash some furniture worth $25,000, a cash register worth $5,000 and kitchen equipment worth $40,000.

June 2 The owner purchased some more kitchen equipment for $90,000. The owner paid a $26,000 cash deposit and paid for the remainder by going to the bank and getting a loan for the rest of the amount needed to buy the equipment.

June 4 The business paid $1,200 cash for rent for the month of June for the restaurant. The business will pay rent every month until he can find a building to purchase or rent long term.

June 8 Purchased food for $9,200 for cash. (Assume the food will all be sold by the end of June) and drinks for $6,500 on credit. (Assume all of the drinks will also be sold by the end of June).

June 9 The owner purchases kitchen supplies on credit for $900. The supplies will be enough to use for 6 months.

June 12 The business paid $300 cash for general expenses for the business.

June 15 Sales of food and drink for the first half of the month were $10,600 on credit and $11,200 for cash.

June 16 The business paid $8,900 cash for wages for the second half of the month.

June 18 The business paid $860 cash for electricity for the month of June.

June 19 The owner withdrew $450 cash from the business for personal use.

June 21 The business paid the amount owing for the supplies purchased on the 9^th of June.

June 22 The business purchased more food on credit for $4,000 (assume the business will sell of the food by the end of June).

June 23 The business repaid $1,200 cash for the loan on the equipment purchased on the 2^nd of June.

June 24 Received $1,000 cash from customers who owe money for sales of food on the 15^th of June.

June 26 Paid the full amount owing for food purchased on the 8^th of June.

The business is paying for the drinks purchased on credit on the 8th of June, not the food (which was purchased for cash)

June 27 The business paid the telephone expense for June for $280 cash.

June 28 Sales of food and drink for the second half of the month were $12,600 for cash and $9,400 on credit.

June 30 The business paid $8,900 cash for wages for the second half of the month.

June 30 Received $1,200 cash from customers who owe money for sales of food made on credit on the 28^th of June.

June 30 The business repaid $1,600 cash for the food purchased on credit on the 22^nd of June.

Record the journal entries for the events above on pages 4 to 6 of this document (General Journal).

(20 Marks)

(b) Complete the ledger accounts which are on pages 5 to 7 of this document (ledger accounts).

(8 Marks)

(c) Complete the trial balance on page 8 of this document.

(3 Marks)

(d) Prepare an Income Statement and Balance Sheet for the period ending 30^th June on pages 9 and 10 of the document.