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  3. at the beginning of the current season on april 1,

At the beginning of the current season on April 1, the ledger of Oosthuizen Pro...

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Accounting

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At the beginning of the current season on April 1, the ledger of Oosthuizen Pro Shop, NV showed Cash 13,000; Inventory 42,000; and Share CapitalOrdinary 55,000. Oosthuizen Pro Shop Trial Balance As on April 30, 2019 DR CR Sales Revenue 1,200,000 Sales Returns and Allowances 27,000 Sales Discount 18,500 Freight-In 19,500 Purchases 765,000 Purchase Discounts 17,400 Purchase Returns and Allowances 14,600 Freight-out 24,500 Salary expenses 24,000 Rent expenses 18,000 Supplies expenses 7,000 Interest expenses 6,000 Additional facts: 1. Merchandise inventory on April 30, 2019, is 74,600. 2. Oosthuizen Pro Shop uses a periodic system. Instructions: 1. Calculate Cost of good sold. 2. Prepare an income statement through gross profit for the year ended April 30, 2019

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