Exercise 1017 Complete the accounting cycle using stockholders' equity transactions ( L.O10-2, 10-4, 10-5, 10-8) [The following information applies to the questions displayed below.] On January 1, 2021, the general ledger of Grand Finale Fireworks includes the following account balances: During January 2021, the following transactions occur: January 2 Issue an additional 2,100 shares of $1 par value common stock for $42,000. January 9 Provide services to customers on account, 516,700. January 10 Purchase additional supplies on account, $5,660. January 12 Purchase 1,800 shares of treasury stock for $20 per share. January is Pay cash on accounts payable, $17,280. January 21 Provide services to customers for cash, $49,800. January 22 Receive cash on accounts receivable, $17,300. January 29 Declare a cash dividend of $0.20 per share to all shares outstanding on January 29. The dividend is payable on February 15. (Hint; Grand Finale Fireworks had 17,080 shares outstanding on January 1, 2021, and dividends are not paid on treasury stock.) January 30 Resell 800 shares of treasury stock for 322 per share. January 31 Pay cash for salaries during January, $42,700. a. Unpaid utilities for the month of January are $6,900. b. Supplies at the end of January total $5,800.. 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 $10,700. d. Accrued income taxes at the end of January are $2,700. 2. Record the adjusting entries on January 31, 2021 for the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 4 Unpaid utilities for the month of January are $6,900. Prepare the adjusting entry for utiilies. Note: Inker debis before credits. Journal entry worksheet Supplies at the end of January total $5,800. Prepare the adjusting entry for supplies. Note: Enter debits before credits. 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 $10,700. Prepare the adjusting entry for depreciation. Note: Enter debits before credits. Journal entry worksheet Accrued income taxes at the end of January are $2,700. Prepare the adjusting entry for income taxes. Note: Enter debits before credits