Question

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.


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  • CreatedJune 11, 2015
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