On January 1, XL, Woo Jang-choon Inc. (W]C) began operations selling $150,000 worth of shares to investors and signing a $10,000 promissory note to a bank. On that same day, W]C Inc. used some of this capital to buy equipment worth $82,000, which has a useful life of 6 years and a salvage value of $10,000. WIC also purchased $800 worth of supplies and prepaid for 1 ycar's worth of an online network server, which costs $3.600 on 1-lan.
Fulliasle which costs 53,600 an 1 Jan. The final urancacticn for the mouth is a $1,000 a drvidend paiel to sharehohlers. 2. Please record the appropriate journal entry (ies) on January. 14, x. 8. Please record the appropriate journal entry(ies) on January 28, 11 . 4. Please record the appropriate ADJUSIING journal entry(ies) for the month of January. 6. Pleave rocord the dosing fournal entry(ies) for the month of January. Please use the Income Summary accoumt and disregerd tincinin. 7. Calculate Net Income Percentage, Return on Equity, Working Capital, and Current Ratio. Pleare refer to the Star Ine. finamcial statements on the folloming pase to an are querions BelU. 2xxi. Given this information, which of the following can we know must be mue about Flower Inc.? a. Curme0t ratios 8.43 b. Current ratiot 3.78 c. Acid-test ratios 1.44 d. Aciditest tatio: 2.10 9. Cae of Sar Inc.'s competitors, Flower Inc., who is about the same sire company as Star Inc, was found to be thore linuid thas Star Inc. in 2xx3. Given this information, which of the following can we know must be true about Flower Inc,? a. Currcht ratio: 3,5,3 b. Current ratio: 2,57 C. Acid-test ratio: 0,35 d. Acid-test ratio: 1.37 10. One of Star Inc.'s competitors, Hower Inc., who is about the same size company as Star Inc,y was found to be tmore profitable for shareholders than Star Ine, in 2x.4. Given this information, which of the following can we know must be true about Flower Inc. a. Return on Equity: 0,09 b. Return on Equity: 0.1s c. Net income Percentage: 3.87% d. Net lncome Percentage: 4.12\% 11. Which of these correctly reports Star's Return on Equity: a. 2x1:0.18 b. There is insufficient information available to answer this question. c. 2x2;0.11 d. 2x3;10.12 Fulliasle which costs 53,600 an 1 Jan. The final urancacticn for the mouth is a $1,000 a drvidend paiel to sharehohlers. 2. Please record the appropriate journal entry (ies) on January. 14, x. 8. Please record the appropriate journal entry(ies) on January 28, 11 . 4. Please record the appropriate ADJUSIING journal entry(ies) for the month of January. 6. Pleave rocord the dosing fournal entry(ies) for the month of January. Please use the Income Summary accoumt and disregerd tincinin. 7. Calculate Net Income Percentage, Return on Equity, Working Capital, and Current Ratio. Pleare refer to the Star Ine. finamcial statements on the folloming pase to an are querions BelU. 2xxi. Given this information, which of the following can we know must be mue about Flower Inc.? a. Curme0t ratios 8.43 b. Current ratiot 3.78 c. Acid-test ratios 1.44 d. Aciditest tatio: 2.10 9. Cae of Sar Inc.'s competitors, Flower Inc., who is about the same sire company as Star Inc, was found to be thore linuid thas Star Inc. in 2xx3. Given this information, which of the following can we know must be true about Flower Inc,? a. Currcht ratio: 3,5,3 b. Current ratio: 2,57 C. Acid-test ratio: 0,35 d. Acid-test ratio: 1.37 10. One of Star Inc.'s competitors, Hower Inc., who is about the same size company as Star Inc,y was found to be tmore profitable for shareholders than Star Ine, in 2x.4. Given this information, which of the following can we know must be true about Flower Inc. a. Return on Equity: 0,09 b. Return on Equity: 0.1s c. Net income Percentage: 3.87% d. Net lncome Percentage: 4.12\% 11. Which of these correctly reports Star's Return on Equity: a. 2x1:0.18 b. There is insufficient information available to answer this question. c. 2x2;0.11 d. 2x3;10.12
