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On January 1 , 2 0 2 4 , the general ledger of Grand Finale Fireworks includes the following account balances: During January 2 0
On January the general ledger of Grand Finale Fireworks includes the following account balances: During January the following transactions occur: January Issue an additional shares of $ par value common stock for $ January Provide services to customers on account, $ January Purchase additional supplies on account, $ January Purchase shares of treasury stock for $ per share. January Pay cash on accounts payable, $ January Provide services to customers for cash, $ January Receive cash on accounts receivable, $ January Declare a cash dividend of $ per share to all shares outstanding on January The dividend is payable on February Hint: Grand Finale Fireworks had shares outstanding on January and dividends are not paid on treasury stock. January Resell shares of treasury stock for $ per share. January Pay cash for salaries during January, $ The following information is available on January a Unpaid utilities for the month of January are $ b Supplies at the end of January total $ 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 $ d Accrued income taxes at the end of January are $ Record each of the transactions listed above in the 'General Journal' tab these are shown as items to Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. Record adjusting entries on January in the 'General Journal' tab these are shown as items to Review the adjusted 'Trial Balance' as of January in the 'Trial Balance' tab. Prepare a multiplestep income statement for the period ended January in the 'Income Statement' tab. Prepare a classified balance sheet as of January in the 'Balance Sheet' tab. Record the closing entries in the 'General Journal' tab these are shown as items to Using the information from the requirements above, complete the 'Analysis' tab.
On January the general ledger of Grand Finale Fireworks includes the following account balances:
During January the following transactions occur:
January Issue an additional shares of $ par value common stock for $
January Provide services to customers on account, $
January Purchase additional supplies on account, $
January Purchase shares of treasury stock for $ per share.
January Pay cash on accounts payable, $
January Provide services to customers for cash, $
January Receive cash on accounts receivable, $
January Declare a cash dividend of $ per share to all shares outstanding on January The dividend is payable on February
Hint: Grand Finale Fireworks had shares outstanding on January and dividends are not paid on
treasury stock.
January Resell shares of treasury stock for $ per share.
January Pay cash for salaries during January, $
The following information is available on January
a Unpaid utilities for the month of January are $
b Supplies at the end of January total $
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 $
d Accrued income taxes at the end of January are $
Record each of the transactions listed above in the 'General Journal' tab these are shown as items to Review the
'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances.
Record adjusting entries on January in the 'General Journal' tab these are shown as items to
Review the adjusted 'Trial Balance' as of January in the 'Trial Balance' tab.
Prepare a multiplestep income statement for the period ended January in the 'Income Statement' tab.
Prepare a classified balance sheet as of January in the 'Balance Sheet' tab.
Record the closing entries in the 'General Journal' tab these are shown as items to
Using the information from the requirements above, complete the 'Analysis' tab.
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