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Question 3 (a) The opening balances of Ronnie's Repairs Ltd as at 1 March 2022 are as follows. Accounts Payable Accounts Receivable Cash at Bank Inventory Loan Motor Vehicle Shop Equipment Capital $10,500 $6,450 $75,000 $29,250 $52,500 $23,700 $17,250 Calculate the Capital amount in the table above (2 marks) (b) Ronnie's Repairs Ltd recorded the following transactions during the month of March 2022: Describe each transaction in the table below Date Account Dr Cr Describe each transaction (ignore the amounts in your description) March 3 $4,050 Wages Cash at Bank $4,050 $2,250 March 7 Cash at Bank Accounts Receivable $2,250 March 15 Shop Equipment GST Clearing Accounts Payable $16,050 $1,605 $17,655 $847 March 21 Cash at Bank Service Revenue GST Clearing $770 $77 $1,200 March 27 Loan Cash at Bank $1,200 (c) Using the opening balances in Part (a) and the transactions in Part (b): i. ii. post the opening balances shown in Part (a) into the general ledger accounts provided on the following pages post the transactions from Part (b) into the general ledger accounts provided on the following pages balance the general ledger accounts iii. General ledger Cash at Bank $ Date Account Date Account Accounts Receivable Date Date Account Account Inventory $ Date Date Account Account Date Shop Equipment $ Date Account Account $ Motor Vehicle $ Date Date Account Account $ (d) Prepare a trial balance below TRIAL BALANCE of Ronnie's Repairs Ltd as at 31 March 2022 $

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