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IThe following information applies to the questions displayed belowJ On January 1, 2018, the general ledger of Grand Finale Fireworks includes the following account balances:
IThe following information applies to the questions displayed belowJ On January 1, 2018, the general ledger of Grand Finale Fireworks includes the following account balances: Accounts DebitCredit Cash Accounts Recelvable Supplies Equipment Accumulated Depreclation Accounts Payable Common Stock, $1 par value Additional Pald-In Capital Retalned Earnings $43.600 46.300 8.400 73.000 $9.900 15.500 19,000 89,000 37,900 Totals $171300 $171.300 During January 2018, the following transactions occur January 2 Issue an additional 2.100 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 1.200 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 $42.900
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