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On January 1 , 2 0 2 4 , the general ledger of Grand Finale Fireworks includes the following account balances: Accounts Debit Credit Cash
On January the general ledger of Grand Finale Fireworks includes the following account balances:
Accounts Debit Credit
Cash $
Accounts Receivable
Supplies
Equipment
Accumulated Depreciation $
Accounts Payable
Common Stock, $ par value
Additional Paidin Capital
Retained Earnings
Totals $ $
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, $
Unpaid utilities for the month of January are $
Supplies at the end of January total $
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 $
Accrued income taxes at the end of January are $
Prepare an adjusted trial balance as of January tableAccountsDebit,Credit
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