If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. No Date Account Title Credit Debit 40.000 1 Jan 02 Cash Common Stock 2.000 38.000 Additional Paid in Capital 2 Jan 00 16.100 Accounts Receivable Service Revenue 18.100 3 Jan 10 5.500 Supplies Accounts Payable 5.500 4 Jan 12 24,700 Treasury Stock Cash 24.700 5 Jan 15 17.100 Accounts Payable Cash OO 17.100 Jan 21 49.700 Cash Service Revenue 40,700 7 Jan 22 17200 Cash Accounts Receivable 17.200 8 Jan 20 8.680 Dividends Dividends Payable 0.680 9 Jan 30 16.800 Cash Treasury Stock Additional Paid-in Capital 15.200 1.800 10 Jan 31 Oo oo oo oooooo Salaries Expense Cash 42.600 42.600 11 Jan 31 0.800 Utilities Expense Utilities Payable 6.800 12 Jan 31 7.900 Supplies Expense Supplies 7.000 13 Jan 31 1.050 Depreciation Expense Accumulated Depreciation 1.050 14 Jan 31 Income Tax Expense Income Tax Payable lol 2.800 2.800 15 Jan 31 65.800 Service Revenue Retained Earnings 65,800 Oo oo 10 Jan 31 01.550 Retained Earnings Salaries Expense Utilities Expense Supplies Expense Depreciation Expense Income Tax Expense 42.600 6.800 7.900 1.650 2.600 Jan 31 0.680 Retained Earnings Dividends 6.680 > Prey 1 of 1 !!! oints On January 1, 2021, the general ledger of Grand Finale Fireworks includes the following account balances: Accounts Debit Credit Cash $ 43, 300 Accounts Receivable 45,700 Supplies 8,1ee Equipment 78.ee Accumulated Depreciation $ 9,600 Accounts Payable 15,209 Common Stock, 51 par value 16,00 Additional Paid-in Capital 86,899 Retained Earnings 40,300 Totals $167,100 $167,103 eBOOK References During January 2021, the following transactions occur: January 2 Issue an additional 2, eee shares of $1 par value common stock for $4e,eee. January 9 Provide services to customers on account, $16,188. January 10 Purchase additional supplies on account, $5,588. January 12 Purchase 1,380 shares of treasury stock for $19 per share. January 15 Pay cash on accounts payable, $17,1ee. January 21 Provide services to customers for cash, $49,78. January 22 Receive cash on accounts receivable, $17,200. January 29 Declare a cash dividend of $2.40 per share to all shares outstanding on January 29. The dividend is payable on February 15. (Hint: Grand Finale Fireworks had 16,eee shares outstanding on January 1, 2021, and dividends are not paid on treasury stock.) January 30 Resell see shares of treasury stock for $21 per share. January 31 Pay cash for salaries during January, $42,686. 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. d. Accrued income taxes at the end of January are $2.600. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Enter your Return on Equity value to one decimal place 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 2.4096, is the company more or less profitable than other companies in the same industry? The return on equity is 96 Is the company more or less profitable than other companies? ? (b) How many shares of common stock are outstanding as of January 31, 2021? The number of common shares outstanding as of January 31, 2021 is (e) Calculate eamings 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 earnings per share was 52 40 last year (i.e. an average of 50.20 per month), is earnings per share for January 2021 better or worse than last year's average? Earnings per share is Is earrings per share for January 2021 better or worse than last year's average? On January 1, 2021, the general ledger of Grand Finale Fireworks includes the following account balances: Accounts Debit Credit Cash $ 43,300 Accounts Receivable 45,780 Supplies 8,100 Equipment 70,eee Accumulated Depreciation $ 9,60e Accounts Payable 15,200 Common Stock, $1 par value 16,800 Additional Paid-in Capital 86,880 Retained Earnings 40,300 Totals $167,100 $167, 108 $ During January 2021. the following transactions occur. January 2 Issue an additional 2, eee shares of $1 par value common stock for $40,eee. January 9 Provide services to customers on account, $16,100. January 1e Purchase additional supplies on account, 55, 569. January 12 Purchase 1,300 shares of treasury stock for $19 per share. January 15 Pay cash on accounts payable, $17,18e. January 21 Provide services to customers for cash, $49,789 January 22 Receive cash on accounts receivable, $17,200. January 29 Declare a cash dividend of se.40 per share to all shares outstanding on January 29. The dividend is payable on February 15. (Hint: Grand Finale Fireworks had 16,69 shares outstanding on January 1, 2821, and dividends are not paid on treasury stock.) January 30 Resell see shares of treasury stock for $21 per share. January 31 Pay cash for salaries during January, $42,688. 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. d. Accrued income taxes at the end of January are $2.600 Requirement General Joumal General Ledger Trial Balance Income Statement Balance Sheet Analysis Choose the appropriate accounts to complete the company's income statement. Select 'adjusted' from the dropdown, which will then populate the balances in those accounts from the adjusted trial balance. Post-closing Grand Finale Fireworks Multiple-Step Income Statement For the Month ended January 31, 2021 $ 0 Total Revenue Service Revenue 0 0 Total Operating Expenses Income After Taxes 0 $