Question
Use the Following Information to Answer the Questions Below (You Must Show your Work) 1. On Jan 1, The JW-Biz received $30,000 of Cash in
Use the Following Information to Answer the Questions Below (You Must Show your Work) 1. On Jan 1, The JW-Biz received $30,000 of Cash in from the Owners of the Business 2. On Jan 5, The JW-Biz purchased Equipment on account for $20,000. 3. On Jan 10, The JW-Biz provided CPA Services to a customer for $15,000 on Account. 4. On Jan 15, The JW-Corp Paid Jan Rent in the amount of $3,000 with a check. 5. On Jan 20, The JW-Corp Recorded the January PGE Utility Bill in the amount of $1,000 to be paid later. 6. On Jan 25, The JW-Corp paid Dividends in the Amount of $4,000 with Checks. 7. On Jan 30, The JW-Corp recorded Employee Salaries in the Amount of $5,000 for January that will be Paid on Feb 5th. 31) Compute the Net Income for the Month Ended Jan 31-st = _______________________________________ 32) Compute the Ending Retained Earnings Balance at Jan 31 month End = ____________________________ 33) Compute the Ending Cash Balance at Jan 31 Month End = ________________________________________ 34) Compute the Ending Total Assets Balance = __________________________________________________ 35) Compute the Ending Total Liabilities Balance = _________________________________________________ 36) Compute the Ending Total Owners Equity Balance = ____________________________________________
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