a) KANE'S PRO SHOP GENERAL JOURNAL Date: Account Titles and Explanation 2003 5-Apr Purchases Accounts Payable

7-Apr Frieght In Cash 9-Apr Accounts Receivable Purchase Returns 10-Apr Accounts Receivable Sales 12-Apr Purchases Accounts Payable 14-Apr Accounts Payable Cash 17-Apr Accounts Payable Purchase Returns 20-Apr Accounts Recevable Sales 21-Apr Accounts Payable Cash 27-Apr Sales Returns and Allowances Accounts Payable 30-Apr Cash Sales 30-Apr Cash Accounts Recevable REF: Debits 1,600 1,600 80 80 100 100 900 900 660 660 1,500 1,500 60 60 700 700 600 600 30 30 600 600 1100 1100 Credits

b) GENERAL LEDGER KANE'S PRO SHOP Date: Explanation: April 1, 2013 April 7, 2013 April 14, 2013 April 21, 2013 April 30, 2013 April 30, 2013 Cash REF: Debits $ 2,500.00 Credits $ $ $ $ $ 600.00 1,100.00 80.00 1,500.00 600.00 Balance $ 2,500.00 $ 2,420.00 $ 920.00 $ 320.00 $ 920.00 $ 2,020.00

Date: Explanation: April 10, 2013 April 20, 2013 April 27, 2013 April 30, 2013 Date: Explanation: April 1, 2013

Accounts Receivable REF: Debits $ 900.00 $ 700.00

Credits

$ $ Merchandise inventory REF: Debits $ 3,500.00

30.00 1,100.00

Balance $ 900.00 $ 1,600.00 $ 1,570.00 $ 470.00 Balance $ 3,500.00

Credits

Date: Explanation: April 5, 2013 April 9, 2013 April 12, 2013 April 14, 2013 April 17, 2013 April 21, 2013

Accounts Payable REF: Debits $ $ $ $ Kane, Capital REF: Debits 100.00

Credits $ 1,600.00 $ 660.00

1,500.00 60.00 600.00

Balance $ 1,600.00 $ 1,500.00 $ 2,160.00 $ 660.00 $ 600.00 $ -

Date: Explanation: April 1, 2013

Credits $ 6,000.00

Balance $ 6,000.00

Date: Explanation: April 10, 2013 April 20, 2013 April 30, 2013

Sales REF:

Debits

Credits $ 900.00 $ 700.00 $ 600.00

Balance $ 900.00 $ 1,600.00 $ 2,200.00

Date: Explanation: April 27, 2013

Sales returns and allowances REF: Debits Credits $ 30.00

Balance $ 30.00

Date: Explanation: April 5, 2013 April 12, 2013

Purchases REF: Debits $ 1,600.00 $ 660.00 Freight in REF: Debits $

Credits

Balance $ 1,600.00 $ 2,260.00

Date: Explanation: April 7, 2013

Credits 80.00

Balance $ 80.00

Date: Explanation: April 9, 2013 April 17, 2013

Purchase returns and allowances REF: Debits Credits $ 100.00 $ 60.00

Balance $ 100.00 $ 160.00

Date:

Explanation:

Credits

Balance

Date:

Explanation:

Credits

Balance

Date:

Explanation:

Credits

Balance

c)

KANE'S PRO SHOP TRIAL BALANCE APRIL 30, 2003 Debit 2,020 470 3,500 Credit

Cash Accounts receivable Merchandise inventory Accounts payable Kane, Capital Sales Sales returns and allowances Purchases Purchase returns and allowances Freight in

6,000 2,200 30 2,260 80 160

8,360

8,360

d) KANE'S PRO SHOP MULTIPLE-STEP INCOME STATEMENT FOR THE MONTH OF APRIL 2003 Sales Less: sales returns and allowances Net sales Cost of goods sold Inventory, April 1 Purchases Less: purchase returns and allowances Net purchases Add: freight in Cost of goods purchased Cost of goods available for sale Inventory, April 30 Cost of goods sold 3500 2260 160 2100 80 2180 5680 4200 1480 $ 690.00 2200 30 2170