Answered step by step
Verified Expert Solution
Question
1 Approved Answer
How do I calculate the ones that i got wrong? Please show the steps! DurIng January 2024 , the following transactions occur: January 2 Issue
How do I calculate the ones that i got wrong? Please show the steps!
DurIng January 2024 , 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, $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, \$18,300. 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 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. 5. Prepare a classified balance sheet as of January 31, 2024. (Amounts to be deducted should be Indicated by a minus sign.)Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started