Exercise 10-17A Complete the accounting cycle using stockholders' equity transactions (L010-2, 10-4, 10-5, 10-8) (GL) On January 1, 2021, the general ledger of Grand Finale Fireworks includes the following account balances Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common Stock, $1 par value Additional Paid in Capital Retained Earnings Totals Debit Credit $ 43,300 45,700 8,100 70,000 $ 9,600 15,200 16, eee 86,000 40300 $167,100 $167,100 During January 2021. the following transactions occur January 2 Issue an additional 2,000 shares of $1 par value common stock for $40,000. January 9 Provide services to customers on account, $16,100 January 10 Purchase additional supplies on account, $5,500 January 12 Purchase 1,300 shares of treasury stock for $19 per share. January 15 Pay cash on accounts payable, 517,100 January 21 Provide services to customers for cash, $49,700 January 22 Receive cash on accounts receivable, $17,200 January 29 Declure cash dividend of $0.40 per share to all shares outstanding on January 29 The dividend is payable on February 15. (Hint: Grand Finale Fireworks had 16,000 shares outstanding on January 1, 2021, and dividends are not paid on treasury stock.) January 30 Resell 800 shares of treasury stock for $21 per share. January 31 Pay cash for salaries during January. 542,600 The following information is available on January 31, 2021 a. Unpaid utilities for the month of January are $6.800. b. Supplies at the end of January total $5.700. 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 $10,600. (Hint: Start with the cost of the Equipment shown at the top.) d. Accrued Income taxes at the end of January are $2,600 Requirement General General Income Journal Trial Balance Ledger Statement Balance Sheet It no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field View transaction list View journal entry worksheet No Date Credit 1 Jan 02 Account Title Cash Common Stock Additional Padin Capital Debit 40.000 2.000 38.000 / 2 Jan 00 Accounts Receivable Service Revenue 16.100 10 100 3 Jan 10 Supplies Accounts Payable 5.500 5,500 4 Jan 12 24.700 Treasury Stock Cash 24,700 5 Jan 15 17,100 Accounts Payable Cash 17.100 6 Jan 21 49,700 Cash Service Revenue 49.700 7 Jan 17 200 Cash Accounts Receivable 17,200 8 Jan 29 5,880 Dividends Dividends Payable 5,880 9 Jan 30 8,400 Cash Treasury Stock Additional Paid-in Capital 6,800 1,600 10 Jan 31 Salanes Expense Cash 42,600 42.600 11 Jan 31 Utlites Expense 6,800 6800 9 Jan 30 8,400 Cash Treasury Stock Additional Paid in Capital 6.800 1,600 10 Jan 31 42,600 Salanes Expense Cash 42.600 11 Jan 31 Utilities Expense 6.800 6.800 12 Jan 31 Supplies Expenso Supplies 13 Jan 31 Depreciation Expense Accumulated Depreciation 14 Jan 31 2,600 Income Tax Expense Income Tax Payable 2,600 Adjusted k Grand Finale Fireworks Multiple-Step Income Statement For the Month ended January 31, 2021 Total Revenue S 0 Total Operating Expenses 0 0 s 0 Adjusted Grand Finale Fireworks Classified Balance Sheet January 31, 2021 Assets Liabilities Current Assets Current Liabilities 0 Total Current Assets Noncurrent Assets 0 Total Current Liabilities Stockholders' Equity Total Assets Total Stockholders' Equity Total Liabilities & Stockholders' Equity $ 0 0 0 $ (Income Statement