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At The Beginning of The Current Season The Ledger Of: Unlock Answers Here Solutiondone - Online

Village Tennis Shop AG's ledger showed cash of CHF2,500, inventory of CHF1,700, and share capital of CHF4,200 at the beginning of the current season. During April, the company purchased inventory on account, paid freight and accounts, sold merchandise to members, received cash payments, granted an allowance, and fully paid accounts. By April 30th, transactions were recorded and T-accounts were used to enter beginning balances and post amounts to accounts, resulting in a trial balance being prepared.

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589 views1 page

At The Beginning of The Current Season The Ledger Of: Unlock Answers Here Solutiondone - Online

Village Tennis Shop AG's ledger showed cash of CHF2,500, inventory of CHF1,700, and share capital of CHF4,200 at the beginning of the current season. During April, the company purchased inventory on account, paid freight and accounts, sold merchandise to members, received cash payments, granted an allowance, and fully paid accounts. By April 30th, transactions were recorded and T-accounts were used to enter beginning balances and post amounts to accounts, resulting in a trial balance being prepared.

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trilocksp Singh
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© © All Rights Reserved
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At the beginning of the current season the ledger of

At the beginning of the current season the ledger of

At the beginning of the current season, the ledger of Village Tennis Shop AG showed Cash
CHF2,500, Inventory CHF1,700, and Share Capital-Ordinary CHF4,200. The following
transactions were completed during April.
Apr. 4 Purchased racquets and balls from Hingis Co. CHF860, terms 3/10, n/30.
6 Paid freight on Hingis Co. purchase CHF74.
8 Sold merchandise to members CHF900, terms n/30.
10 Received credit of CHF60 from Hingis Co. for a racquet that was returned.
11 Purchased tennis shoes from Volker Sports for cash CHF300.
13 Paid Hingis Co. in full.
14 Purchased tennis shirts and shorts from Linzey Sportswear CHF700, terms 2/10, n/60.
15 Received cash refund of CHF90 from Volker Sports for damaged merchandise that was
returned.
17 Paid freight on Linzey Sportswear purchase CHF25.
18 Sold merchandise to members CHF1,200, terms n/30.
20 Received CHF500 in cash from members in settlement of their accounts.
21 Paid Linzey Sportswear in full.
27 Granted an allowance of CHF25 to members for tennis clothing that did not fit properly.
30 Received cash payments on account from members CHF630.
The chart of accounts for the tennis shop includes Cash, Accounts Receivable, Inventory,
Accounts Payable, Share Capital-Ordinary, Sales Revenue, Sales Returns and Allowances,
Purchases, Purchase Returns and Allowances, Purchase Discounts, and Freight-In.
Instructions
(a) Journalize the April transactions using a periodic inventory system.
(b) Using T-accounts, enter the beginning balances in the ledger accounts and post the April
transactions.
(c) Prepare a trial balance on April 30, 2017.

At the beginning of the current season the ledger of


SOLUTION-- http://solutiondone.online/downloads/at-the-beginning-of-the-current-season-the-
ledger-of/

Unlock answers here solutiondone.online

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