I need help finishing this assignment. I'm not too sure on what to do.
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 additionat 2,100 shares of $1 par value common stock for $42,000. January 9 Provide services to customers on account, $16,700. January 10 Purchase additional supplies on account, $5,660. January 12 Purchase 1 , 0e0 shares of treasury stock for $20 per share. January 15 Pay cash on accounts payable, $17,200. January 21 Provide services to custoners for cash, $49,80e. January 22 Peceive 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, 0ee shares outstanding on January 1, 2024, and January 30 Resell 800 shares of treasury stock for $22 per share. January 31 Pay cash for salaries during January, $42,700. The following information is available on January 31,2024. a. Unpoid utilites 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 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. d. Accrued income taxes at the end of January are $2,700. The following information is available on January 31,2024. 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 straight-line method. At the time the equipment 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. 1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 to 10). Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record adjusting entries on January 31. In the 'General Journal' tab (these are shown as items 11 to 14 ). 3. Revlew the adjusted 'Trial Balance' as of January 31,2024 , in the 'Trial Balance' tab. 4. Prepare a multiple-step income statement for the period ended January 31,2024 , in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of January 31,2024 , in the 'Balance Sheet' tab. 6. Record the closing entries in the 'General Journal' tab (these are shown as items 15 to 17). 7. Using the information from the requirements above, complete the 'Analysis' tab. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required 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 3 4 5 6 7 Record the services provided to customers on account, $16,700. Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet 1 2 5 6 7 8 Record purchase of 1,000 shares of treasury stock for $20 per share. Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Requ account fleld.) Journal entry worksheet (1) (2) (4) (6) (7) > (17) Record payment of cash on accounts payable, $17,200. Note: Enter debits before credits. Journal entry worksheet Record the services provided to customers for cash, $49,800. Note: Enter debits before credits. Journal entry worksheet 1 2 3 4 5 6 Record the receipt of cash on accounts receivable, $17,300. Note: Enter debits before credits. Journal entry worksheet 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, 2024 and dividends are not paid on treasury stock.) Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry account field.) Journal entry worksheet (1) (4)(5)8 17 Record the resale of 800 shares of treasury stock for $22 per share. Note: Enter debits before credits. Journal entry worksheet Record the payment of cash for salaries during January, $42,700. Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry account field.) Journal entry worksheet (1) ( 3 ( 9 ( 10 ) (17) Unpaid utilities for the month of January are $6,900. Prepare the adjusting entry for utilities. Note: Enter debits before credits. Journal entry worksheet 1 7 8 10 11 Supplies at the end of January total $5,800. Prepare the adjusting entry for supplies. Note: Enter debits before credits. Journal entry worksheet 1 8 9 10 11 (12) 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. Inirnal antry wnrkehant account field.) Journal entry wnrkchant Each journal entry is posted automatically to the general ledger. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. \begin{tabular}{||c|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Accumulated Depreciation } \\ \hline No. & Date & Debit & Credit & \multicolumn{1}{|c|}{ Balance } \\ \hline & January 01 & & & 9,700 \\ \hline 13 & January 31 & & 1,675 & 11,375 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|r|r|} \hline \multicolumn{5}{|c|}{ Accounts Payable } \\ \hline No. & Date & Debit & \multicolumn{1}{|c|}{ Credit } & \multicolumn{1}{c|}{ Balance } \\ \hline & January 01 & & & 15,300 \\ \hline A & January 10 & & 5,600 & 20,900 \\ \hline C & January 15 & 17,200 & & 3,700 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|r|r|} \hline \multicolumn{5}{|c|}{ Utilities Payable } \\ \hline No. & Date & Debit & Credit & \multicolumn{1}{|c|}{ Balance } \\ \hline & January 01 & & & 0 \\ \hline 11 & January 31 & & 6,900 & 6,900 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|r|r|} \hline \multicolumn{5}{|c|}{ Income Tax Payable } \\ \hline No. & Date & Debit & \multicolumn{1}{|c|}{ Credit } & \multicolumn{1}{|c|}{ Balance } \\ \hline & January 01 & & & 0 \\ \hline 14 & January 31 & & 2,700 & 2,700 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|r|r|} \hline \multicolumn{5}{|c|}{ Common Stock } \\ \hline No. & Date & Debit & \multicolumn{1}{|c|}{ Credit } & \multicolumn{1}{|c|}{ Balance } \\ \hline & January 01 & & & 17,000 \\ \hline 1 & January 02 & & 2,100 & 19,100 \\ \hline \end{tabular} \begin{tabular}{|r|c|r|r|r|} \hline \multicolumn{5}{|c|}{ Depreciation Expense } \\ \hline No. & Date & \multicolumn{1}{|c|}{ Debit } & \multicolumn{1}{c|}{ Credit } & \multicolumn{1}{|c|}{ Balance } \\ \hline & January 01 & & & 0 \\ \hline 13 & January 31 & 1,675 & & 1,675 \\ \hline 16 & January 31 & & 1,675 & 0 \\ \hline \end{tabular} \begin{tabular}{||c|c|r|r|r|} \hline \multicolumn{5}{|c|}{ Supplies Expense } \\ \hline No. & \multicolumn{1}{|c|}{ Date } & \multicolumn{1}{|c|}{ Debit } & \multicolumn{1}{c|}{ Credit } & \multicolumn{1}{c|}{ Balance } \\ \hline & January 01 & & & 0 \\ \hline 12 & January 31 & 8,000 & & 8,000 \\ \hline 16 & January 31 & & 8,000 & 0 \\ \hline \end{tabular} tice the dropdown below that gives the options to select the unadjusted, adjusted or post-closing trial balance. The optioi u choose will be the values used to populate the income statement and balance sheet tabs. Prepare a multiple-step income statement for the period ended January 31,2024 . Choose the appropriate accounts to complete the company's income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Prepare a classifled 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 selection Using the information from the requirements above, complete the 'Analysis' tab. (Enter your return on equity value to one decin and earnings per share value to 2 decimal places.) Analyze the following for Grand Finale Fireworks: (a) Calculate the return on equity for the month of January. If the average return on equity for the industry for January is 2.50%, is the company more or less profitable than other companies in the same industry? The retum on equity is: is the company more of less profitable than other companies? (b) How many shares of common stock are outstanding as of January 31, 2024? The number of common shares outstanding as of January 31,2024 is (c) Calculate earnings per share for the month of January. (Hint: To calculate average shares of common stock outstanding take the beginning shares outstanding plus the ending shares outstanding and divide the total by 2 .) If eamings per share was $2.40 last year (i.e, an average of \$0.20 per month), is eamings per share for January 2024 better or worse than last year's average? 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 additionat 2,100 shares of $1 par value common stock for $42,000. January 9 Provide services to customers on account, $16,700. January 10 Purchase additional supplies on account, $5,660. January 12 Purchase 1 , 0e0 shares of treasury stock for $20 per share. January 15 Pay cash on accounts payable, $17,200. January 21 Provide services to custoners for cash, $49,80e. January 22 Peceive 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, 0ee shares outstanding on January 1, 2024, and January 30 Resell 800 shares of treasury stock for $22 per share. January 31 Pay cash for salaries during January, $42,700. The following information is available on January 31,2024. a. Unpoid utilites 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 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. d. Accrued income taxes at the end of January are $2,700. The following information is available on January 31,2024. 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 straight-line method. At the time the equipment 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. 1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 to 10). Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record adjusting entries on January 31. In the 'General Journal' tab (these are shown as items 11 to 14 ). 3. Revlew the adjusted 'Trial Balance' as of January 31,2024 , in the 'Trial Balance' tab. 4. Prepare a multiple-step income statement for the period ended January 31,2024 , in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of January 31,2024 , in the 'Balance Sheet' tab. 6. Record the closing entries in the 'General Journal' tab (these are shown as items 15 to 17). 7. Using the information from the requirements above, complete the 'Analysis' tab. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required 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 3 4 5 6 7 Record the services provided to customers on account, $16,700. Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet 1 2 5 6 7 8 Record purchase of 1,000 shares of treasury stock for $20 per share. Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Requ account fleld.) Journal entry worksheet (1) (2) (4) (6) (7) > (17) Record payment of cash on accounts payable, $17,200. Note: Enter debits before credits. Journal entry worksheet Record the services provided to customers for cash, $49,800. Note: Enter debits before credits. Journal entry worksheet 1 2 3 4 5 6 Record the receipt of cash on accounts receivable, $17,300. Note: Enter debits before credits. Journal entry worksheet 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, 2024 and dividends are not paid on treasury stock.) Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry account field.) Journal entry worksheet (1) (4)(5)8 17 Record the resale of 800 shares of treasury stock for $22 per share. Note: Enter debits before credits. Journal entry worksheet Record the payment of cash for salaries during January, $42,700. Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry account field.) Journal entry worksheet (1) ( 3 ( 9 ( 10 ) (17) Unpaid utilities for the month of January are $6,900. Prepare the adjusting entry for utilities. Note: Enter debits before credits. Journal entry worksheet 1 7 8 10 11 Supplies at the end of January total $5,800. Prepare the adjusting entry for supplies. Note: Enter debits before credits. Journal entry worksheet 1 8 9 10 11 (12) 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. Inirnal antry wnrkehant account field.) Journal entry wnrkchant Each journal entry is posted automatically to the general ledger. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. \begin{tabular}{||c|c|c|c|r|} \hline \multicolumn{5}{|c|}{ Accumulated Depreciation } \\ \hline No. & Date & Debit & Credit & \multicolumn{1}{|c|}{ Balance } \\ \hline & January 01 & & & 9,700 \\ \hline 13 & January 31 & & 1,675 & 11,375 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|r|r|} \hline \multicolumn{5}{|c|}{ Accounts Payable } \\ \hline No. & Date & Debit & \multicolumn{1}{|c|}{ Credit } & \multicolumn{1}{c|}{ Balance } \\ \hline & January 01 & & & 15,300 \\ \hline A & January 10 & & 5,600 & 20,900 \\ \hline C & January 15 & 17,200 & & 3,700 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|r|r|} \hline \multicolumn{5}{|c|}{ Utilities Payable } \\ \hline No. & Date & Debit & Credit & \multicolumn{1}{|c|}{ Balance } \\ \hline & January 01 & & & 0 \\ \hline 11 & January 31 & & 6,900 & 6,900 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|r|r|} \hline \multicolumn{5}{|c|}{ Income Tax Payable } \\ \hline No. & Date & Debit & \multicolumn{1}{|c|}{ Credit } & \multicolumn{1}{|c|}{ Balance } \\ \hline & January 01 & & & 0 \\ \hline 14 & January 31 & & 2,700 & 2,700 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|r|r|} \hline \multicolumn{5}{|c|}{ Common Stock } \\ \hline No. & Date & Debit & \multicolumn{1}{|c|}{ Credit } & \multicolumn{1}{|c|}{ Balance } \\ \hline & January 01 & & & 17,000 \\ \hline 1 & January 02 & & 2,100 & 19,100 \\ \hline \end{tabular} \begin{tabular}{|r|c|r|r|r|} \hline \multicolumn{5}{|c|}{ Depreciation Expense } \\ \hline No. & Date & \multicolumn{1}{|c|}{ Debit } & \multicolumn{1}{c|}{ Credit } & \multicolumn{1}{|c|}{ Balance } \\ \hline & January 01 & & & 0 \\ \hline 13 & January 31 & 1,675 & & 1,675 \\ \hline 16 & January 31 & & 1,675 & 0 \\ \hline \end{tabular} \begin{tabular}{||c|c|r|r|r|} \hline \multicolumn{5}{|c|}{ Supplies Expense } \\ \hline No. & \multicolumn{1}{|c|}{ Date } & \multicolumn{1}{|c|}{ Debit } & \multicolumn{1}{c|}{ Credit } & \multicolumn{1}{c|}{ Balance } \\ \hline & January 01 & & & 0 \\ \hline 12 & January 31 & 8,000 & & 8,000 \\ \hline 16 & January 31 & & 8,000 & 0 \\ \hline \end{tabular} tice the dropdown below that gives the options to select the unadjusted, adjusted or post-closing trial balance. The optioi u choose will be the values used to populate the income statement and balance sheet tabs. Prepare a multiple-step income statement for the period ended January 31,2024 . Choose the appropriate accounts to complete the company's income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Prepare a classifled 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 selection Using the information from the requirements above, complete the 'Analysis' tab. (Enter your return on equity value to one decin and earnings per share value to 2 decimal places.) Analyze the following for Grand Finale Fireworks: (a) Calculate the return on equity for the month of January. If the average return on equity for the industry for January is 2.50%, is the company more or less profitable than other companies in the same industry? The retum on equity is: is the company more of less profitable than other companies? (b) How many shares of common stock are outstanding as of January 31, 2024? The number of common shares outstanding as of January 31,2024 is (c) Calculate earnings per share for the month of January. (Hint: To calculate average shares of common stock outstanding take the beginning shares outstanding plus the ending shares outstanding and divide the total by 2 .) If eamings per share was $2.40 last year (i.e, an average of \$0.20 per month), is eamings per share for January 2024 better or worse than last year's average
