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At the beginning of the current season on April 1, the records of Blue Spruce Pro Shop showed Cash $ 3,210 , Inventory $ 3,500
At the beginning of the current season on April 1, the records of Blue Spruce Pro Shop showed Cash $3,210, Inventory $3,500, and Common Stock $6,710. The following transactions occurred during April 2022.
- Your answer is partially correct. Enter the beginning balances in the summary and record the April transactions using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Assets Cash Accts. Rec. Inv. Apr 1 $ 3210 3500 $ 1400 5 -300 9 10 1270 -910 1060 12 14 - 1100 1007000** 17 20 300 -550 1000 21 - 1120 30 1120 eTextbook and Media Enter the beginning balances in the summary and record the April transactions using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Liabilities Stockholders' Equity Accts. Pay. Common Stock Rev. 6710 1400 -300 1270 [ [ 1060 -1100 .60 800 -1000 Enter the beginning balances in the summary and record the April transactions using a perpetual inventory system. Include margin explanations for the changes in revenues and expenses. (Enter negative amounts using either a negative sign preceding the number e.3.45 or parentheses e.g. (45).) Stockholders' Equity Retained Earnings ck Rev. . 6710 $ i Sales revenue 1270 910 Cost of goods sold i 800 550 Sales returns & allowances : e Textbook and Media MacBch At Apr. 5 | Purchased golf bags, clubs, and balls on account from Wildhorse Co. $1,400. | |
9 | Received credit from Wildhorse Co. for merchandise returned $300. | |
10 | Sold merchandise on account to members $1,270. The merchandise sold had a cost of $910. | |
12 | Purchased golf shoes, sweaters, and other accessories on account from Blossom Sportswear $1,060. | |
14 | Paid Wildhorse Co. in full. | |
17 | Received credit from Blossom Sportswear for merchandise returned $60. | |
20 | Made sales on account to members $800. The cost of merchandise sold was $550. | |
21 | Paid Blossom Sportswear in full. | |
30 | Received payments on account from members $1,120. |
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