Answer Happy

Gulf Office Supplies has started a business. During the Month to30 st June 2022 the following transactions occur:
1) Introduced £10,000 Capital into the business.
2) Bought goods for £3,500.
3) Sold goods on credit for £2,200 to Gulf PetroChem.
4) Paid wages of £400.
5) Received a £9,000 cash loan from the bank.
6) Bought goods on credit for £5,000 From MegaSupplies
7) Sold goods for £3,500 cash.
8) Bought a delivery van for use in the business costing£5,000.
9) Bought Stationary for £20.
10) Received and paid an electricity bill for £500.
11) Sold goods for £800 on credit to Palm Estates.
12) Paid a supplier £1,800.
13) Received £900 from Gulf PetroChem
14) Repaired the delivery van costing £60.
15) Bought a forklift truck on credit for £3,500.
Required:
a) Show the nominal ledger entries (usingT-accounts) for the above transactions
Close off each T-account and prepare an initial trial balance asof 30th June
b) Produce a Statement of Profit or Loss forthe year ended 30th June 2022 and a Statement of Financial Positionas of 30th June 2022
Note: Note: Closing inventory was £5,000 for Gulf OfficeSupplies