PSA4.4 Please

Journalise, post, and prepare trial balance and partial statement of profit or loss (LO2,3,4) PSA4 4 On 1 April the ledger of Alexander's Tennis Pro Shop Pty Ltd showed Cash $450o, Inventory $6300, and Share Capital $10 80o. The following transactions occurred during April 2016 Purchased racquets and balls on account from Tennis Australia Ltd $3060, terms 2/7, n/60. Paid freight on Tennis Australia Ltd purchase $144 Returned inventory and received credit from Tennis Australia Ltd for $360. Sold inventory on account $1620, terms n/30. The inventory sold had a cost of $1134 Purchased tennis shoes, T-shirts and other accessories on account from Sharp Sporting Goods $1188, terms 1/7, n/30. Paid Tennis Australia Ltd the amount due. Apr. 7 10 14 17 Returned inventory and received credit from Sharp Sporting Goods for $108. 20 21 Made sales on account to customers $1260, terms n/30. The cost of the inventory sold was $882 Paid Sharp Sporting Goods the amount owing. Granted an allowance to customers for clothing that did not fit properly $108. Received payments on account, $1980. 30 The chart of accounts for the shop includes 100 Cash, 105 Accounts Receivable, 115 Inventory, 200 Accounts Payable, 300 Share Capital, 40o Sales, 405 Sales Returns and Allowances, 410 Discount Received, 50o Cost of Sales, and 505 Freight Inwards. Required a. Journalise the April transactions using a perpetual inventory system b. Using T accounts, enter the beginning balances in the ledger accounts and post the April transactions. C. Prepare a trial balance as at 30 April 2016. d. Prepare a statement of profit or loss to gross profit. Prepare a fully classified statement of profit or loss. (LO4) PSA4.5 An inexperienced accountant prepared this statement of profit or loss for Peninsula Pty Ltd, a merchandising firm that has been in business for a number of years