The following transactions of Jaker Ltd. occurred in the month of January 2016:

Date:

1 Borrowed $12,500 from the bank.

3 Issued 2,200 common shares for $22,000.

5 Purchased inventory on account totalling $24,700.

9 Bought computer equipment costing $8,000 for $4,000 cash and the balance on account.

15 Made sales totalling $25,000, of which $9,000 were on account. The cost of the products sold from inventory was $14,000.

19 Made payments to suppliers totalling $15,000.

25 Collected on account from customers totalling $7,800.

27 Made sales totalling $10,500, all on account. The cost of the products sold from inventory was $7,600.

28 Employees earned wages of $2,400 during the month, of which $2,200 was paid.

28 Incurred $800 of utilities expenses during the month.

Required:

Analyze and record these transactions using the template method.

Transcribed Image Text:

ASSETS LIABILITIES S/H EQUITY Wages Loan Common Date/Ref.Cash A/R Inv. Equip A/P Payable Payable SharesR/E RVE/DD