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Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common stock, $1 par value Additional Paid-in Capital Retained Earnings Totals Debit Credit $ 44,500
Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common stock, $1 par value Additional Paid-in Capital Retained Earnings Totals Debit Credit $ 44,500 48,100 9,300 82,000 $ 10,800 16,40 18,000 98,000 4e, 700 $183,900 $183,900 During January 2021, the following transactions occur. January 2 Issue an additional 2,800 shares of $1 par value common stock for $40, eee. January 9 Provide services to customers on account, $19,500. January 10 Purchase additional supplies on account, $6,780. January 12 Purchase 1,200 shares of treasury stock for $21 per share. January 15 Pay cash on accounts payable, $18,300. January 21 Provide services to customers for cash) $50,900. January 22 Receive cash on accounts receivable, $18,400. January 29 Declare a cash dividend of $0.30 per share to all shares outstanding on January 29. The dividend is payable on February 15. (Hint: Grand Finale Fireworks had 18,eee shares outstanding on January 1, 2021, and dividends are not paid on treasury stock.) January 30 Resell 6ee shares of treasury stock for $23 per share. January 31 Pay cash for salaries during January, $43,800. The following information is available on January 31, 2021. a. Unpaid utilities for the month of January are $8,000. b. Supplies at the end of January total $6,900. c. Depreciation on the equipment for the month of January is calculated using the straightline method. At the time the equipment was purchased the company estimated a service life of three years and a residual value of $11,800, d. Accrued income taxes at the end of January are $2,900. I no entry is required for a transaction/event, select "No Journal Entry Required in the first account field. View transaction list Journal entry worksheet Leuye Statement Each journal entry is posted automatically to the general ledger. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted General Ledger Account Cash Accounts Receivable No. Debit Credit No. Date Debit Credit Date Dec 31 Balance 44,500 Balance 48.100 Supplies Debit Equipment Debit Credit No. No. Balance Credit Date Dec 31 Date Dec 31 Balance 82.000 0,300 Accounts Payable Accumulated Depreciation Debit Credit No. Date Debit Credit No. Date Balance 10.800 Balance 16.400 Common Stock Debit Credit Additional Paid-in Capital Debit Credit No. Date Balance 28.000 No. Balance 18,000 Date Retained Earnings Debit Credit No. Date Balance 40700 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Notice the dropdown below that gives the options to select the unadjusted, adjusted or post-closing trial balance. The option you choose will be the values used to populate the income statement and balance sheet tabs. Unadjusted Grand Finale Fireworks Trial Balance January 31, 2021 Account Title Debit Credit Cash $ 44,500 Accounts Receivable 48.100 Supplies 0.300 Equipment 82000 Accumulated Depreciation 10.800 Accounts Payable 10,400 Common Stock 18.000 Additional Paid-in Capital 08,000 Retained Earnings 40.700 Total S 183.900 5 183,000 Requirement General Joumal General Ledger Trial Balance Income Statement Balance Sheet Analysis Choose the appropriate accounts to complete the company's income statement. Select 'adjusted' from the dropdown will then populate the balances in those accounts from the adjusted trial balance. Unadjusted Grand Finale Fireworks Multiple-Step Income Statement For the Month ended January 31, 2021 Total Revenue Total Operating Expenses Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Choose the appropriate accounts to complete the company's balance sheet. Make sure to select 'adjusted' from the d which will then populate the balances in those accounts from the adjusted trial balance. Unadjusted Grand Finale Fireworks Classified Balance Sheet January 31, 2021 Assets Liabilities Current Assets: Current Liabilities: Total Current Assets Total Current Liabilities Stockholders' Equity Noncurrent Assets: Total Stockholders Equity Total Liabilities & Stockholders' Equity Total Assets Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Enter your Return on Equity value to one decimal place and earnings per share value to 2 decimal places. Analyze the following for Grand Finale Fireworks: a) Calculate the return on equity for the month of January. If the average return on equity for the industry for January is 2.50%, is the company more or less profitable than other companies in the same industry? The return on equity is 96 Is the company more or less profitable than other companies? (b) How many shares of common stock are outstanding as of January 31, 2021? The number of common shares outstanding as of January 31, 20211s (c) Calculate earnings per share for the month of January (Hint: To calculate average shares of common stock outstanding take the beginning shares outstanding plus the ending shares outstanding and divide the total by 2.) If earnings per share was $2.40 last year, an average of $0.20 per month), is earnings per share for January 2021 better or worse than last year's average? Earnings per share is Is earnings per share for January 2021 better or worse than last year's average? Balance Sheet
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