Emile Kokott, a former disc golf star, operates Emile’s Discorama, SA. At the beginning of the current period on April 1, the ledger of Emile’s Discorama showed Cash €1,850, Inventory €2,150, and Share Capital-Ordinary €4,000. The following transactions were completed during April. 1. Apr. 5 Purchased inventory on account from Ellis Co. €1,200, FOB shipping point, terms 2/10,n/60. The appropriate party paid freight cost for €75. 2. Apr. 9 Received credit from Ellis Co. for merchandise returned €100. 3. Apr. 10 Sold merchandise on account for €930, terms 1/10, n/30. 4. Apr. 12 Purchased inventory on account from Penguin Co. €720, terms 1/10, n/30 5. Apr. 14 Paid Ellis Co. in full 6. Apr. 26 Paid Penguin Sportswear in full. 7. Apr. 30 Received payments on account from customers €930. Instructions: (a) Journalize the April transactions using a PERIODIC inventory system. (b) Compute the cost of goods sold for the month ended April 30. Assume the Ending Inventory $2,023.
Cutler v Wandsworth Stadium Ltd  AC 398 Here a breach of a statutory duty to allow a bookmaker entry to a dog- racing track gave rise to a civil action. There was no mention of a fine or a penalty. Lumley v Gye  2 E & B 216 A singer who was contracted to sing exclusively for the claimant was persuaded, in breach of that contract, to perform for the defendant. The court accepted that this gave rise to liability.
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