Download Fin 20-H#A.docx (28.8 KB)| At Alternative formats -W MIN BUSINESS TRANSACTIONS for the MONTH of January 2020. 1) Van 1 The JW-Corp Rebelved $120,000 from investors in Exchange for 6,000 shares of Common Stook. 2) Jan-2 JW-Corp Borrowed $160,000 from SCHWAB BANK and signed a Note Due in 24 months. 3) Jan-3 JW Corp purohased Office Equipment worth $120,000 (6 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 (28 year life), by making a Down payment of $80,000 and then signed a Note for the remainder Due In 18 Months to CHASE Bank, 6) Jan-5 JW Corp pald $15,000 with a check for Office Rent for the next 3 months 8) Jan 10 UW Corp paid $4,000 with a cheok for Business Insurance for this month. 7) Jan 11 JW Corp provided CPA Services to the Gavilan Corp worth $175,000 and Colleoted $86,000 Cash and Billed them the remainder on Account 8) Jan-18 JW-Corp received This Month's Utility Bill from POE 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 recelved 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. 42) 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-26 JW-Corp received a $27,000 check from Garllo-Corp for Services to be provided Later. 16) Jan 26 JW-Corp Paid Target $33,000 with a Cheek 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 Cheaks. 18) Jan-29.JW-Corp pald $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. 2 9/10/2020 22) Jan-31 the JW-Corp Recorded the Income Tax Payable for the Month, which is 34.00% of Net Income (Ch#4) 2) Prepare a Table of Contents with the Name of Each Report and the Pages, Example. Journal 1-2 3) Prepare the Accounting Journal a) Record all Accounting Entries based on the Business Transactions Below. b) Include 5 Columns: (1) Transaction Number, (2) Date, (3) Account, (4) DEBIT and (5) CREDIT ) Include an Explanation for EACH Journal Entry & Show All CALCULATIONS Below the Entry d) See Examples on the Website and Chapter 3 Study Guide Solutions. 4) Prepare the General Ledger, T-Accounts. a) Post all Accounting Transactions from the Journal into the General Ledger (T-Accounts). b) Make sure to include the Business Transaction Reference Numbers in the Ledger 1) See Examples in your Book, Study Guide Solutions, and Quiz Solutions on the Website 5) Prepare the Trial Balance with month End Balance a) 3 Columns as follows: (1) Account Name, (2) DEBIT Balance (3) CREDIT Balance b) Prepare the Report with Accounts in Proper Order: Assets, Liabilities, Owners Equity, Revenues, and Expenses. Obtain the numbers For the Trial Balance Directly from the Ledger L-Accounts. 1 9/10/2020 6) Prepare the Mutiple-Step Income Statement for the Month. a) Use the Example on the I-Learn Course Website and Chapter 4. Show Every Expense Account 7) Prepare the Statement of Changes in Owners Equity for the Month. a) Use the Example on the I-Learn Course Website and Chapter 4 as a Guide. 8) Prepare the BALANCE SHEET at Month END Date. a) Use the Example on the I-Learn Course Website and Chapter 4 as a Gulde. 9) Prepare a Vertical Analysis of Income Statement. (Show your % out to 2 Decimals, example -9.65%) a) Use the Example on the I-Learn Course Website. b) Answer the following Questions Below the Analysis Report 1) How much of Every Dollar from a Customer does our Business Keep? # What is the Largest Single Expense for our Biz and How much does it Cost per Dollar? 1) What is the Largest Single Operating Expense and How much does it cost per Dollar