Question

The following transactions of Carswell Wholesale Inc. occurred in the month of September 2016:
Date:
Sept. 1 Issued 200 common shares for $20,000.
4 To raise additional capital, Carswell borrowed $10,000 from the bank on a long-term loan.
7 Purchased equipment for $4,500.
9 Purchased inventory costing $2,500 on account.
15 Sold units from inventory to customers, on account, for $4,000.
19 Purchased additional inventory, on credit, at a cost of $2,100 to replace the units sold.
20 Made payments of $2,700 on its accounts payable.
21 Purchased a used delivery van for $15,000.
28 At month end, counted inventory and determined that the cost of the units sold on September 15 totalled $1,800.
28 Paid employee wages of $700 for the month.
29 Received an invoice from the local newspaper for $400 for advertising run during the month of September. The invoice is due on October 15.
30 Paid utilities costs of $150 for the month.
30 During the month, Carswell received $2,200 from customers as payments on their accounts.
Required:
Analyze and record these transactions using the template method.


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  • CreatedJune 11, 2015
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