Adam Nichols, a former disc golf star, operates Tamarisk, Inc.. At the beginning of the current season on April 1, the ledger of Tamarisk, Inc. showed Cash $1,900, Inventory $2,500, and Common Stock $4,400. The following transactions were completed during April.
Apr. 5 Purchased golf discs, bags, and other inventory on account from Rayford Co. $1,050, FOB shipping point, terms 2/10, n/60.
7 Paid freight on the Rayford purchase $60.
9 Received credit from Rayford Co. for merchandise returned $200.
10 Sold merchandise on account for $930, terms n/30. The merchandise sold had a cost of $558.
12 Purchased disc golf shirts and other accessories on account from Galaxy Sportswear $560, terms 1/10, n/30. 14 Paid Rayford Co. in full, less discount.
17 Received credit from Galaxy Sportswear for merchandise returned $60.
20 Made sales on account for $680, terms n/30. The cost of the merchandise sold was $350.
21 Paid Galaxy Sportswear in full, less discount.
27 Granted an allowance to customers for clothing that was flawed $10.
30 Received payments on account from customers $860.
The chart of accounts for the store includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Inventory, No. 201 Accounts Payable, No. 311 Common Stock, No. 401 Sales Revenue, No. 412 Sales Returns and Allowances, and No. 505 Cost of Goods Sold.
1.Journalize the April transactions using a perpetual inventory system
2. Enter the beginning balances in the ledger accounts and post the April transactions.
3. Prepare a trial balance on April 30, 2015.

Match the given situations to the type of risks that a business may face while taking credit.(there's not just one answer)1. beta ltd. had taken a loan from a bankfor a period of 15 years, but its salesare gradually showing a decline.2. alpha ltd. has taken a loan for increasing its production and sales,but it has not conducted any researchbefore making this decision.3. delphi ltd. has an overseas client. the economy of the client’s country is going through severe recession.4. delphi ltd. has taken a short-term loanfrom the bank, but its supply chain logistics are not in place.a. foreign exchange riskb. operational riskc. term of loan riskd. revenue projections risk

Fred smithers, a recent college graduate decided to open his own portable juice bar, smithers smoothies, to wheel around newport beach. you, a trusted friend of fred, are a business major that has also recently graduated and agreed to handle the books for a while to get some practical experience and have a favor that you can ask of fred in the future. given the following five transactions concerning the new venture, prepare the necessary journal entries for the transactions, post the journal entries to appropriate t accounts and prepare a trial balance as of the end of the month in order to answer to the necessary may 2: fred invests $12,000 of his own money to start the new company. this money was obtained from a part-time job working at a legal firm while he was in school. may 3: fred spent $5,100 cash to purchase a refrigerated trailer that he can pull behind his car and set up at the beach. under your advice, fred agrees to place the new asset under an account called "equipment." may 6: fred bought $640 of supplies on account from the flav-o-rite confectioners company. because they will last longer than a single accounting period fred agrees to record them as, "supplies" as per your suggestion. may 13: fred sat on the beach for six hours without a single sale and was feeling very down. right before he left, however, a plumber escorting his family reunion along the beach stopped by his stand and bought $800 worth of smoothies for the entire family. under your advice, fred agrees to call this cash revenue, "sales." may 15: excited about his new venture, fred withdraws $350 from the company to take his girlfriend out to dinner. what would be the balance in the cash account at the end of the period following the posting of all the transactions?

Match the terms with the appropriate definition. 1. work done for pay job 2. series of related jobs based on knowledge, training, tasks performed, interests, and experience career 3. buying or selling products and services using the internet mediation 4. wage amount after deductions are withheld net wage 5. a way a person chooses to live his or her life e-commerce 6. the people who are both able and willing to work technology 7. unequal treatment of others based on a bias concerning a person’s characteristics such as race, religion, gender, or age discrimination 8. the act of sharing information lifestyle 9. the use of a third party to make suggestions workforce 10. knowledge and tools used to perform tasks communication