Exercise 10-17 Complete the accounting cycle using stockholders' equity transactions (LO10-2, 10-4, 105, 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 vatue comnon stock for $42,080. January 9 Provide services to customers on account, $16,700. January 10 Purchase additional supplies on account, $5,660. January 12 Purchase 1 ,eea shares of treasury stock for $20 per share. January 15 Pay cash on accounts payable, 511,280 . January 21 Provide services to customers for cash, $49,800. January 22 Receive cash on accounts receivable, $17,300. January 29 Dectare a cash dividend of 50.20 per share to all shares outstanding on January 29 . The dividend is payable on February 15. (Hint: Grand Finate 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 $22 per share. January 31 Pay cash for salaries during January, $42,700. 1. Record each of the transactions listed above. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record issuance of an additional 2,100 shares of $1 par value common stock for $42,000. Note: Enter debits before credits. Journal entry worksheet 45678 Record the providing of services to customers on account, $16,700. Note: Enter debits before credits. Journal entry worksheet 567 Record purchase of additional supplies on account, $5,600. Note: Enter debits before credits. Journal entry worksheet Record purchase of 1,000 shares of treasury stock for $20 per share. Record payment of cash on accounts payable, $17,200. Note; Enter debits before credits. Journal entry worksheet Record the providing of services to customers for cash, $49,800. Note: Enter debits before credits. Journal entry worksheet 12345 Record the receipt of cash on accounts receivable, $17,300. Note: Enter debits before credits. Journal entry worksheet 123 10 Record the declaration of 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 17,000 shares outstanding on January 1, 2021 and dividends are not paid on treasury stock.) Note: Enter debits before credits. Journal entry worksheet 567 Record the reselling of 800 shares of treasury stock for $22 per share. Note: Enter debits before credits. Record the payment of cash for salaries during January, $42,700, Note: Enter debits before credits
