Question

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

Date:
1		Borrowed $10,500 from the bank.
3		Issued 1,800 common shares for $18,000.
5		Purchased inventory on account totalling $20,700.
9		Bought computer equipment costing $6,700 for $3,400 cash and the balance on account.
15		(a) Made sales totalling $21,000, of which $7,600 were on account. (b) The cost of the products sold from inventory was $11,800.
19		Made payments on accounts owing to suppliers totalling $12,600.
25		Collected on accounts from customers totalling $6,600.
27		(a) Made sales totalling $8,800, all on account. (b) The cost of the products sold from inventory was $6,400.
28		Employees earned wages of $2,000 during the month, of which $1,800 was paid.
28		Incurred $700 of utilities expenses during the month.

Analyze and record these transactions. (Enter amounts that decrease account balance using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Indicate whether it is Revenues, Expenses or Dividends declared in the last column. In case if there is no effect then select "Not Applicable". Post entries in the order presented in the problem statement.)

			Assets								Liabilities						Shareholders’ Equity
Date			Cash		Accounts Receivable		Inventory		Equipment		Accounts Payable		Wages Payable		Loan Payable		Common Shares		Retained Earnings		Revenues/Expenses/ Dividends Declared
Choose a transaction date.Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28 Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28			Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Select an option.Not ApplicableRevenuesExpensesDevidends Declared RevenuesExpensesDevidends DeclaredNot Applicable
Choose a transaction date.Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28 Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28			Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Select an option.Not ApplicableRevenuesDevidends DeclaredExpenses RevenuesExpensesDevidends DeclaredNot Applicable
Choose a transaction date.Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28 Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28			Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Select an option.RevenuesNot ApplicableDevidends DeclaredExpenses RevenuesExpensesDevidends DeclaredNot Applicable
Choose a transaction date.Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28 Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28			Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Select an option.Devidends DeclaredRevenuesExpensesNot Applicable RevenuesExpensesDevidends DeclaredNot Applicable
Choose a transaction date.Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28 Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28	(a)		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Select an option.RevenuesDevidends DeclaredNot ApplicableExpenses RevenuesExpensesDevidends DeclaredNot Applicable
Choose a transaction date.Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28 Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28	(b)		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Select an option.RevenuesExpensesDevidends DeclaredNot Applicable RevenuesExpensesDevidends DeclaredNot Applicable
Choose a transaction date.Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28 Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28			Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Select an option.Not ApplicableExpensesDevidends DeclaredRevenues RevenuesExpensesDevidends DeclaredNot Applicable
Choose a transaction date.Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28 Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28			Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Select an option.RevenuesExpensesNot ApplicableDevidends Declared RevenuesExpensesDevidends DeclaredNot Applicable
Choose a transaction date.Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28 Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28	(a)		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Select an option.Not ApplicableExpensesRevenuesDevidends Declared RevenuesExpensesDevidends DeclaredNot Applicable
Choose a transaction date.Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28 Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28	(b)		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Select an option.Devidends DeclaredRevenuesExpensesNot Applicable RevenuesExpensesDevidends DeclaredNot Applicable
Choose a transaction date.Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28 Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28			Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Select an option.Not ApplicableDevidends DeclaredRevenuesExpenses RevenuesExpensesDevidends DeclaredNot Applicable
Choose a transaction date.Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28 Jan. 1Jan. 3Jan. 5Jan. 9Jan. 15Jan. 19Jan. 25Jan. 27Jan. 28			Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Enter a dollar amount.		Select an option.Not ApplicableDevidends DeclaredExpensesRevenues RevenuesExpensesDevidends DeclaredNot Applicable

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Answer 1

Date	Assets	=	Liabilities	+	Equity
	Cash	+	Accounts receivable	+	Inventory	+	Equipment	=	Accounts payable	+	Wages payable	+	Loan payable	+	common stock	+	Retained earning
1	10500												10500
3	18000														18000
5					20700				20700
9	-3400						6700		3300
15(a)	13400   [21000-7600]		7600														21000	Revenue
(b)					-11800												-11800	expense
19	-12600								-12600
25	6600		-6600
27 (a)			8800														8800	Revenue
(b)					-6400												-6400	Expense
28	-1800										200						-2000	Expense
28									700								-700	Expense
Total	30700	+	9800	+	2500	+	6700	=	12100	+	200	+	10500	+	18000	+	8900