Use the Following Information to Answer the Questions Below

1. On Jan 1, The JW Corp received $150,000 of cash in exchange for Ownership in the Busness.

2. On Jan 15, The JW Corp paid the January Rent in the amount of $20,000 with a Check.

3. On Jan 20, The JW Corp purchased Furniture on account for $60,000.

4. On Jan 21, The JW Corp paid Employee Salaries in the amount of $30,000 with a Check.

5. On Jan 22, The JW Corp provided Services to a customer worth $90,000 on account.

6. On Jan 25, The JW Corp bought a Computer System for $40,000 with a Check.

7. On Jan 30, The JW Corp paid Dividends in the amount of $10,000 to the Owner with a Check.

QUESTIONS

1. Compute the Net Income for the Month

2 Compute the Ending Retained Earnings at Month End

3 Compute the Ending Cash Balance at Month End

4 Compute the Ending Total Assets at Month End

5 Compute the Ending Total Liabilities at Month End

6 Compute the Ending Total Owners Equity at Month End