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HELPP PLEASE!! On January 1, 2024, the general ledger of Grand Finale Fireworks Includes the following account balances: During January 2024, the following transactions occur:
HELPP PLEASE!!
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,e90 shares of $1 par value comon stock for $49,000. January 9 Provide services to custoners 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, $18,390. January 21 Provide services to custoners for cash, $50,900. January 22 Receive cash on accounts receivable, $18,40. 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, 000 shares outstanding on January 1, 2024, and dividends are not paid on treasury stock.) January 30 Resell 600 shares of treasury stock for $23 per share. January 31 Pay cash for salaries during January, $43,800. The following Information is avallable on January 31, 2024. a. Unpald utilitles for the month of January are $8,000. b. Supplies at the end of January total $6,900. c. Depreclation 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 $11,800. d. Accrued income taxes at the end of January are $2,900. Prepare a classified balance sheet as of January 31, 2024. Choose the appropriate accounts to complete the company's balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selectionStep by Step Solution
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