Mr. Arish opened Arish’s Carpet Cleaners on March 1, 2021. During March, the following
transactions were completed.
Mar. 1: Invested Tk 15,000 cash in the business.
Mar. 1: Purchased used Lorry for Tk 6,000, paying Tk 3,000 cash and the balance on
Mar. 3: Purchased cleaning supplies for Tk 1,500 on account.
Mar. 5: Paid Tk 1,200 cash on one-year insurance policy effective March 1.
Mar. 14: Billed customers Tk 4,800 for cleaning services.
Mar. 18: Paid Tk 1,500 cash on amount owed on Lorry and Tk 500 on amount owed on
Mar. 20: Paid Tk 2,000 cash for employee salaries.
Mar. 21: Collected Tk 2,800 cash from customers billed on March 14.
Mar. 28: Billed customers Tk 2,500 for cleaning services.
Mar. 31: Paid advertising expenses of Tk 500.
Mar. 31: Withdrew Tk 1000 cash for personal use.
5) Prepare the Income Statement and Owner’s Equity Statement for March and a
classified Financial Position at March 31