Find Total Assets, Total Liabilities, Total Liabilities + Owner Equity, and Total Owner Equity
1) Jan-1 The JW-Corp Received $120,000 from Investors in Exchange for 6,000 shares of Common Stock.
2) Jan-2 JW-Corp Borrowed $150,000 from SCHWAB BANK and signed a Note Due in 24 months.
3) Jan-3 JW Corp purchased Office Equipment worth $120,000 (5 year life), with a $40,000 Down payment of Cash and the remainder Due on account to Target-Corp within 9 Months.
4) Jan-4 JW Corp purchased an Office Building for $600,000 (25 year life), by making a Down payment of $60,000 and then signed a Note for the remainder Due in 18 Months to CHASE Bank.
5) Jan-5 JW Corp paid $15,000 with a check for Office Rent for the next 3 months.
6) Jan-10 JW Corp paid $4,000 with a check for Business Insurance for this month.
7) Jan-11 JW Corp provided CPA Services to the Gavilan Corp worth $175,000 and Collected $85,000 Cash and Billed them the remainder on Account.
8) Jan-15 JW-Corp received This Month’s Utility Bill from PGE for $3,000 to be paid Later.
9) Jan-16 JW-Corp received This Month’s Telephone Bill from Skype for $200 to be paid Later.
10) Jan-17 JW-Corp received a $10,000 check from Gavilan Corp on Account.11) Jan-20 JW-Corp received a BILL for $15,000 for Legal Fees used this month to be Paid Later.
12) Jan-23 JW-Corp paid $11,000 with Checks for this Months Salaries expenses.
13) Jan-24 JW-Corp Received a $13,000 check from Gavilan Corp on Account.
14) Jan-25 JW-Corp received a $27,000 check from Garlic-Corp for Services to be Provided Later .
15) Jan-26 JW-Corp Paid Target $33,000 with a Check towards the Equipment from Transaction #3.
16) Jan-27 JW Corp Wrote a Check to Skype for the Full Amount Due on account for the Telephone Bill from #9.
17) Jan-28 JW Corp Paid $4.20 Cents per Share to the Owners of the Business with Checks.
18) Jan-29 JW-Corp paid $9,000 with a Check on the Note Payable from Transaction #2, $2,800 was for Interest Expense, and the remainder reduced the Note Payable.
19) Jan-31 JW-Corp recorded one Month of RENT Expense from the Prepaid Account.
20) Jan-31 JW-Corp recorded one Month of Depreciation Expense on The Office Equipment Using the Straight Line Depreciation Method.
21) Jan-31 The JW Corp recorded one Month of Depreciation Expense on the Office Building using the Straight Line Depreciation Method.
22) Jan-31 the JW-Corp Recorded the Income Tax Payable for the Month, which is 34.00% of Net Income.
Find Total Assets, Total Liabilities, Total Liabilities + Owner Equity, and Total Owner Equity 1) Jan-1...
Prepare the Statement of Changes in Owners Equity for the Month. 1) Jan-1 The JW-Corp Received $120,000 from Investors in Exchange for 6,000 shares of Common Stock. 2) Jan-2 JW-Corp Borrowed $150,000 from SCHWAB BANK and signed a Note Due in 24 months. 3) Jan-3 JW Corp purchased Office Equipment worth $120,000 (5 year life), with a $40,000 Down payment of Cash and the remainder Due on account to Target-Corp within 9 Months. 4) Jan-4 JW Corp purchased an Office...
Prepare the General Ledger, T-Accounts. 1) Jan-1 The JW-Corp Received $120,000 from Investors in Exchange for 6,000 shares of Common Stock. 2) Jan-2 JW-Corp Borrowed $150,000 from SCHWAB BANK and signed a Note Due in 24 months. 3) Jan-3 JW Corp purchased Office Equipment worth $120,000 (5 year life), with a $40,000 Down payment of Cash and the remainder Due on account to Target-Corp within 9 Months. 4) Jan-4 JW Corp purchased an Office Building for $600,000 (25 year life),...
BUSINESS TRANSACTIONS for the MONTH of January 2020. Prepare the Trial Balance with month End Balance 1) Jan-1 The JW-Corp Received $120,000 from Investors in Exchange for 6,000 shares of Common Stock. 2) Jan-2 JW-Corp Borrowed $150,000 from SCHWAB BANK and signed a Note Due in 24 months. 3) Jan-3 JW Corp purchased Office Equipment worth $120,000 (5 year life), with a $40,000 Down payment of Cash and the remainder Due on account to Target-Corp within 9 Months. 4) Jan-4...
Using the information below, 1. Prepare the general ledger 2. Prepare the multiple step income statement 3. Prepare the owner's equity statement 4. Prepare the classified balance sheet APR-1 the JW-Corp Received $200,000 in Exchange for 40,000 shares of Common Stock. APR-1 the JW-Corp Borrowed $150,000 from US-Bank on a Note, Due in 5 Years with 8% Interest Paid Monthly. APR-2 the JW-Corp Purchased a Building for $360,000 (25 year life), with $60,000 Cash Down Payment and signed a Note...
BUSINESS TRANSACTIONS for the Month of December. 1) 12-1 The Shark Corp Received $220,000 from SJ Sharkie in exchange for 5,000 shares of Common Stock. 2) 12-2 The Shark Corp Borrowed $45,000 from Wells Fargo Bank and signed a Note. 3) 12-3 The Shark Corp purchased Office Furniture for $120,000(5 year life), on account from IKEA.. 4) 12-4 The Shark Corp purchased Computer Equipment for $60,000(5 year life), on account from Office Depot 5) 12-5 The Shark Corp paid $18,000...
1. On Jan-1 Our Business Received $33,000 in Cash from Investors in Exchange for Stock in the Corporation. 2. On Jan-2 Our Business paid $18,000 with check for Insurance for the next 6 months 3. On Jan-3 Our Business purchased a Building for $264,000 by paying a Cash Down Payment Today of $30,000 and Signing a Note Payable for the remaining Balance Due. The Building has 20 year LIFE. 4. On Jan-4 Our Business received a $20,000 Check from the...
Set 2.0 15 cm Please Choose 1 of the other. ARM Prob#4: Use the Following Information to Answer the Questions Below (show your work) The JW-Corp uses a Perpetual FIFO Method of Inventory Valuation 1. On May 1 The JW-Corp Authorized 200,000 Shares of $1 Par Value Common Stock 2. On May 2 The JW-Corp Issued 50,000 Shares of $1 Par Value Common Stock for $4 Each. 3. On May 10 The JW-Corp Bought 50 Bikes for $400 each, with...
2 of 2 (0 complete) * More Info Jan. 1 Murphy contributed $78,000 cash to the business, Terrence Murphy, Attorney. The business issued common stock to Murphy. Purchased office supplies, $600, and furniture, $1,700, on account. Performed legal services for a client and received $1,000 cash. Purchased a building with a market value of $130,000, and land with a market value of $25,000. The business paid $25,000 cash and signed a note payable to the bank for the remaining amount....
Aggie Kids Parties Co. engaged in the following transactions during Jan 2018, its first month of operations: W. White and his brother each invested $20,000 of cash in exchange for stock in the company. Performed service for customers on account, $2,850 Purchased a building for $20,000 to use as a future office. Pald $2,000 and signed a 2 year note for the balance. Purchased $300 of office supplies. Paid cash. Received $2,000 as a deposit for a job to be...
weite out the journal entries for each transaction Date Description 2019 Began business. Owners deposit $10,000 in exchange for 1-Jan 1,000 shares of $10.00 par value common stock. Borrowed $25,000 from the bank. Signed a 2 year note with interest at 4.5%. Interest is payable June 30 and 10-Jan December 31 of each year. Signed a lease agreement to rent office space for $975 per month, beginning Feb 14 Nothing was paid today. 12-Jan (Question: do we owe rent for...