Prepare a balance sheet at month end date from the information below Jan-1 The JW-Corp Received...

Prepare a balance sheet at month end date from the information below

Jan-1 The JW-Corp Received $90,000 from Investors in Exchange for 5,000 shares of Common Stock.
Jan-2 JW-Corp Borrowed $130,000 from SCHWAB BANK and signed a Note Due in 24 months.
Jan-3 JW Corp purchased Office Equipment worth $120,000 (5 year life), with a $40,000 Down payment of Cash and the remainder Due on account to Target-Corp within 9 Months.
Jan-4 JW Corp purchased an Office Building for $390,000 (25 year life), by making a Down payment of $60,000 and then signed a Note for the remainder Due in 18 Months to CHASE Bank.
Sep-5 JW Corp paid $15,000 with a check for Office Rent for the next 3 months.
Jan-10 JW Corp paid $4,000 with a check for Business Insurance for this month.
Jan-11 JW Corp provided CPA Services to the Gavilan Corp worth $138,000 and Collected $58,000 Cash and Billed them the remainder on Account.
Jan-15 JW-Corp received This Month’s Utility Bill from PGE for $2,000 to be paid Later.
Jan-16 JW-Corp received This Month’s Telephone Bill from Skype for $900 to be paid Later.
Jan-17 JW-Corp received a $10,000 check from Gavilan Corp on Account.
Jan-20 JW-Corp received a BILL for $12,000 from Lawyer for Legal Fees used this month to be Paid Later.
Jan-23 JW-Corp paid $11,000 with Checks for this Months Salaries expenses.
Jan-24 JW-Corp Received a $13,000 check from Gavilan Corp on Account.
Jan-25 JW-Corp received a $27,000 check from Garlic-Corp for Services to be Provided Later.
Jan-26 JW-Corp Paid Target $33,000 with a Check towards the Equipment from Transaction #3.
Jan-27 JW Corp Wrote a Check to Skype for the Full Amount Due on account for the Telephone Bill from #9.
Jan-28 JW Corp Paid $4.20 Cents per Share to the Owners of the Business with Checks.
Jan-29 JW-Corp paid $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.
Jan-31 JW-Corp recorded one Month of RENT Expense from the Prepaid Account.
Jan-31 JW-Corp recorded one Month of Depreciation Expense on The Office Equipment Using the Straight Line Depreciation Method.
Jan-31 The JW Corp recorded one Month of Depreciation Expense on the Office Building using the Straight Line Depreciation Method.
Jan-31 the JW-Corp Recorded the Income Tax Payable for the Month, which is 40% of Net Income.

Expert Solution

ekkarill92 answered 1 year ago

Prepare T account, trial balance and balance sheet for the following Jan-1 The JW-Corp Received $120,000...

Prepare T account, trial balance and balance sheet for the following Jan-1 The JW-Corp Received $120,000 from Investors in Exchange for 6,000 shares of Common Stock. Jan-2 JW-Corp Borrowed $150,000 from SCHWAB BANK and signed a Note Due in 24 months. Jan-3 JW Corp purchased Office Equipment worth $120,000 (5 year life), with a $40,000 Down payment of Cash and the remainder Due on account to Target-Corp within 9 Months. Jan-4 JW Corp purchased an Office Building for $420,000 (25...

Prepare T account, trial balance, balance sheet and changes in owner's equity statement. Jan-1 The JW-Corp...

Prepare T account, trial balance, balance sheet and changes in owner's equity statement. Jan-1 The JW-Corp Received $120,000 from Investors in Exchange for 6,000 shares of Common Stock. Jan-2 JW-Corp Borrowed $150,000 from SCHWAB BANK and signed a Note Due in 24 months. Jan-3 JW Corp purchased Office Equipment worth $120,000 (5 year life), with a $40,000 Down payment of Cash and the remainder Due on account to Target-Corp within 9 Months. Jan-4 JW Corp purchased an Office Building for...

Prepare the general ledger, t account for Jan-1 The JW-Corp Received $120,000 from Investors in Exchange...

Prepare the general ledger, t account for Jan-1 The JW-Corp Received $120,000 from Investors in Exchange for 6,000 shares of Common Stock. Jan-2 JW-Corp Borrowed $150,000 from SCHWAB BANK and signed a Note Due in 24 months. Jan-3 JW Corp purchased Office Equipment worth $120,000 (5 year life), with a $40,000 Down payment of Cash and the remainder Due on account to Target-Corp within 9 Months. Jan-4 JW Corp purchased an Office Building for $420,000 (25 year life), by making...

Using the account balance below, prepare a classified balance sheet for the JAN Corporation for the...

Using the account balance below, prepare a classified balance sheet for the JAN Corporation for the year ending 2016 Accounts Balances Cash 2,100 Notes payable 5,000 Petty Cash 100 Temporary investments 10,000 Accounts payable 35,900 Accounts Receivable 44,500 Allowance for A/R 4,000 Wages payable 8,500 Interest payable 2,900 Taxes Payable 6,100 Notes Payable 20,000 Land 5,500 Land improvements 6,500 Goodwill 105,000 Trade names 200,000 Common Stock 110,000 Retained earnings 220,000 Unearned revenues 1,500 Equipment 201,000 Accumulated deprecaition 56,000 Supplies 3,800...

For the information provided below, prepare a balance sheet statement.

For the information provided below, prepare a balance sheet statement.The value of the land is $100,000 and the value of the building is $1,010,000.The current portion of the bonds payable is $80,000.The current portion of the notes payable is $50,000.The current portion of mortgage payable is $35,000.The marketable securities are being held to be sold if and when cash might be needed.The name of the company is UAN.The amounts shown are the ending amounts from the period from January 1,...

(Preparing a balance sheet) Prepare a balance sheet from the information in the popup window, ....

(Preparing a balance sheet) Prepare a balance sheet from the information in the popup window, . What are the networking capital and debt ratio? Complete the part of the balance sheet below. (Round to the nearest dollar. NOTE: Input the Accumulated depreciation account as a negative value.) Balance Sheet ASSETS Cash $ Total current assets $ $ Net fixed assets $ Total assets $ Choose from any list or enter any number in the input fields and then click Check...

Using the information presented below, prepare an income statement and the balance sheet from the adjusted...

Using the information presented below, prepare an income statement and the balance sheet from the adjusted trial balance of McTangy Spices. McTangy Spices. Adjusted Trial Balance December 31 Cash %bodyamp;nbsp; 3,050 Accounts receivable 400 Prepaid insurance 830 Office supplies 80 Office equipment 4,200 Accumulated depreciation–office equipment $ 1,100 Buildings 98,000 Accumulated depreciation–buildings 28,000 Land 115,000 Wages Payable 880 Property taxes payable 1,400 Interest payable 2,200 Unearned rent 460 Notes payable 150,000 McTangy Spices, Capital Stock 40,340 McTangy Spices, Dividends 21,000...

Below is the balance sheet information on two companies. Prepare a common-size balance sheet for each...

Below is the balance sheet information on two companies. Prepare a common-size balance sheet for each company. Review each company's percentage of total assets. Are these companies operating with similar philosophies or in similar industries? What appears to be the major difference in financing for these two companies? Account Balance Sheet Company 1 Balance. Sheet Company 2 Current Assets Cash $5,377 $299 Investments $4,146 $354 Accts. Rec. $8,100 $221 Inventory $5,372 $494 Total Current $22,995 $1,368 Long Inv. $84 $307...

(Preparing a balance sheet) Prepare a balance sheet from the information in the following table. Hint:...

(Preparing a balance sheet) Prepare a balance sheet from the information in the following table. Hint: Use the accumulated depreciation account as a negative value. Retained earnings won't be needed for the question. Cash $50,132 Accounts receivable $42,602 Accounts payable $23,319 Short-term notes payable $10,819 Inventories $40,844 Gross fixed assets $1,280,667 Other current assets $5,172 Long-term debt $200,715 Common stock $490,856 Other assets $15,160 Accumulated depreciation $311,215 Retained earnings ? What is the firm's debt ratio: _______% (Round to one...

From the information below prepare, in proper accounting form the, Income Statement, Balance Sheet, and Statement...

From the information below prepare, in proper accounting form the, Income Statement, Balance Sheet, and Statement of Changes in Owners’ Equity, and Statement of Cash Flows for 2016 and 2017. In your Income Statement Calculation, include Subtotals for EBITDA, EBIT, and EBT in addition to Net Income. You must submit your answers in either a MS Word or an MS Excel file. TANDY COMPANY Year Ending 6/30/2017 6/30/2016 6/30/2015 Common Stock 100,000 shares outstanding $460,000 $460,000 $460,000 Net Receivables 632,160...

Question