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Can I please get help with the Income Statement ! On January 1, 2024, the general ledger of Grand Finale Fireworks includes the following account
Can I please get help with the Income Statement !
On January 1, 2024, the general ledger of Grand Finale Fireworks includes the following account balances: During January 2024 , the following transactions occur: January 2 issue an additional 2,000 shares of $1 par value conson stock for $40,000. January 9 Provide services to customers on account, $19,500. January 10 Purchase additional supplies on account, $6,700. January 12 Purchase 1,200 shares of treasury stock for $21 per share. January 15 Pay cash on accounts payable, $18,306. 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 atl shares outstanding on January 29. The dividend is payable on February 15. (Hint; Grand Finale Fireworks had 18, 000 shares outstanding on January 1, 2024, and January 30 Resell 680 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, 2024. 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 straight-line method. At the time the equipment was purchased, the compony 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. Prepare a multiple-step income statement for the period ended January 31,2024 . Choose the appropriate accounts to complete the company's income statement. The unadjusted, adjusted, or post-closing balances will appearfor each account, based on your selection Step by Step Solution
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