1) Jan 1 The JW-Corp authorized 1,000,000 shares of $1 par value stock. 

2) Jan 1 The JW-Corp Issued 60,000 shares of Common stock for $10 each. 

3) Jan 1 The JW-Corp Issued 800 bonds for $1,000 each. 

a) Face Value of $1,000, Due in Ten Years at 6% Interest Payable every Dec 31st) 

4) Jan 5 The JW-Corp Bought 400 Bikes for $70 each, with a check. 

5) Jan 10 The JW-Corp Bought 400 Bikes for $90 each, on account. 

6) Jan 15 The JW-Corp paid January Rent in the Amount of $15,000 with a Check. 

7) Jan 20 The JW-Corp Sold 600 Bikes to the Gilroy Bike Shop for $200 each, with $50,000 Cash Now and the remainder on account. FYI The JW-Corp uses a Perpetual FIFO Inventory system 

8) Jan 24 The JW-Corp paid Jan Salaries of $11,000 with checks. 

9) Jan 25 The JW-Corp Bought Back 4,000 shares of Common stock for $6 each 

10) Jan 31 The JW-Corp Recorded One month of Interest Payable on the Bonds 

11) Jan 31 the JW-Corp Paid Dividends of $.50 Cents per share to All Outstanding Shareholders. 

50) Compute the Gross Profit for the Month =___________________________________________________________ 

51) Compute the Net Income for the Month =___________________________________________________________ 

52) Compute the Ending Retained Earnings Balance=___________________________________________________ 

53) Compute The Ending Cash Balance =_____________________________________________________________ 

54) Compute The Ending Inventory Dollar Balance =________________________________________________________ 

55) Compute the Number of Common Stock Shares Issued as of Month End =____________________________________ 

56) Compute the Number of Common Stock Shares Outstanding as of Month End = ________________________________ 

57) Compute the Ending Total Assets Amount = ___________________________________________________________ 

58) Compute the Ending Total Liabilities Amount = __________________________________________________________ 

59) Compute the Ending Total Owners Equity Amount = ______________________________________________________ 

60) Compute the Ending Total Liabilities and Owners Equity Amount

Answer rating: 100% (QA)

50 Compute the Gross Profit for the Month 50000 51 Compute the Net Income for the Month 33500 52 Compute the Ending Retained Earnings Balance 33500 53 Compute The Ending Cash Balance 95500 54 Compute ... View the full answer