1. Record each of the transactions listed above.

a. Unpaid utilities for the month of January are $7,700. b. Supplies at the end of January total $6,600. c. Depreciation on the equipment for the month of January is calculated using the straight-line method. At the time the equipment was purchased, the company estimated a service life of three years and a residual value of $11,500. d. Accrued income taxes at the end of January are $2,600. 2. Record the adjusting entries on January 31, 2018 for the above transactions.

3. Prepare an adjusted trial balance as of January 31, 2018.

4. Prepare a multiple-step income statement for the period ended January 31, 2018.

5. Prepare a classified balance sheet as of January 31, 2018.

6. Record closing entries.

Exercise 10-17 Complete the accounting cycle (LO10-2, 10-4, 10-5, 10-8) The folowing Information appies to the questions displayed below On January 1, 2018, the general ledger or Grand Finale Fireworks includes the following account balances: S44.200 Accounts Recevable 47.500 9000 79000 10.500 Accumulated Depreciation Accounts Payable Common Stock, $1 par value Additional Paid-in Copital Retained Earnings 6.100 15.000 95000 43,100 Totals $179700 $179700 During January 2018, the following transactions cccur. January 2 Issue an additional 2,200 shares of $1 par value common stock for $44,000. January 9 Provide services to customers on account, $18,300. January 10 Purchase additional supplies on account, $6,400 January 12 Repurchase 1,000 shares of treasury stock for $22 per share. January 15 Pay cash on accounts payable, $18,000. January 21 Provide services to customers for cash, $50,600. January 22 Receive cash on accounts recelvable, $18.100 January 29 Declare a cash dmdend of $0.30 per share to all shares outstanding on January 29. The dvidend is payable on February 15. (Hint. Grand Finale Fireworks had 15.000 shares outstanding on January 1, 2018 and divldends a January 30 Relssue 900 shares of treasury stock for $24 per share January 31 Pay cash for salaries during January. $43.500 are not t pald on treasury stock.)