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. W|C 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. 3. Please record the appropriate journal entry(ies) on January 28,1. 4. Please record the appropriate ADJUSTING journal entry(ies) for the month of January. 6. Please rcord the closing fournal enury(ies) for the monih of January. Please use the Income Summary account and disregerd tincimin. 7. Calculate Net Income Percentage, Return on Equity, Working Capital, and Current Ratio