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IThe following information applies to the questions displayed below On January 1. 2018, the general ledger of Grand Finale Fireworks includes the following account balances:
IThe following information applies to the questions displayed below On January 1. 2018, the general ledger of Grand Finale Fireworks includes the following account balances: DebitCredit counts Cash Accounts Receivable $43.600 46.300 8.400 73.000 Equipment Accumulated Depreclation Accounts Payable Common Stock, $1 par value Additional Pald-In Capital Retained Earnings s 9.900 15.500 19,000 89,000 37900 Totals $171300 $171.300 During January 2018, the following transactions occur January 2 Issue an additional 2100 shares of $1 par value common stock for $42.000. January 9 Provide services to customers on account, $16.300 January 10 Purchase additional supplies on account. $5.800. January 12 Repurchase 1200 shares of treasury stock for $22 per share January 15 Pay cash on accounts payable. $17.400 January 21 Provide services to customers for cash. $50,000 January 22 Receive cash on accounts receivable. $17.500. January 29 Declare a 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 19.000 shares outstanding on January 1, 2018 and dividends are not paid on treasury stock.) January 30 Reissue 700 shares of treasury stock for $24 per share January 31 Pay cash for salaries during January $42900
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