Balance sheet cashflow trial balance
At the beginning of the current season, the ledger of Highland Tennis Shop
showed Cash $2,500; Inventory $1,700; and Common Stock $4,200. The following transactions
were completed during April.
Apr. 4 Purchased racquets and balls from Harris Co. $980, terms 2/10, n/30.
6 Paid freight on Harris Co. purchase $60.
8 Sold merchandise to members $750, terms n/30.
10 Received credit of $130 from Harris Co. for damaged racquets that
were returned.
11 Purchased tennis shoes from Happy Feet for cash $300.
13 Paid Harris Co. in full.
14 Purchased tennis shirts and shorts from Rivera Sportswear $1,300,
terms 3/10, n/60.
15 Received cash refund of $50 from Happy Feet for damaged merchandise
that was returned.
17 Paid freight on Rivera Sportswear purchase $60.
18 Sold merchandise to members $660, terms n/30.
20 Received $500 in cash from members in settlement of their accounts.
21 Paid Rivera Sportswear in full.
27 Granted an allowance of $30 to members for tennis clothing that did
not fit properly.
30 Received cash payments on account from members $550
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Balance sheet cashflow trial balance
At the beginning of the current season, the ledger of Highland Tennis Shopshowed Cash $2,500; Inventory $1,700; and Common Stock $4,200. The following transactionswere completed during April.Apr. 4 Purchased racquets and balls from Harris Co. $980, terms 2/10, n/30.6 Paid freight on Harris Co. purchase $60.8 Sold merchandise to members $750, terms n/30.10 Received credit of $130 from Harris Co. for damaged racquets thatwere returned.11 Purchased tennis shoes from Happy Feet for cash $300.13 Paid Harris Co. in full.14 Purchased...
accounting 2
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pare P5-4B Alex Diaz, a former professional tennis star, operates Diaz Tennis Shop at the Cedar...
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Please help, it would be greatly appreciated :) Using T-accounts, enter the beginning balances in the...
Please help, it would be greatly appreciated :)
Using T-accounts, enter the beginning balances in the ledger accounts and post the April transactions. (Post entries in the order of journal entries posted in part a. For accounts that have a zero balance select "4/30 Bal." from the list and enter for the amount.) Cash 4/1 Bal. 2910 4/30 1150 4/30 - Accounts Receivable Inventory Accounts Payable Common Stock Sales Revenue Sales Returns and Allowances At the beginning of the current...
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Please help, it would be greatly appreciated :)
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