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On January 1, 2018, the general ledger of Grand Finale Fireworks includes the following account balances: Cash $ 43,000 45,100 7,800 67,000 Accumulated Depreciation Accounts
On January 1, 2018, the general ledger of Grand Finale Fireworks includes the following account balances: Cash $ 43,000 45,100 7,800 67,000 Accumulated Depreciation Accounts Payable Common Stock, $1 par value Additional Paid-in Capital Retained Eamings $ 9,300 14,900 13,000 83,000 42,700 Totals $162,900 $162,900 During January 2018, the following transactions occur January 2 Issue an additional 2,200 shares of $1 par value common stock fr S4400. January 9 Provide services to customers on account, $15,100 January 10 -Purchase additional supplies on account, $5,200. January 12 Repurchase 1,100 shares of treasury stock for $18 per share. January 15 Pay cash on accounts payable, $16,800. January 21 Provide services to customers for cash, $49,400. January 22 Receive cash on accounts receivable, $16,900. January 29 Dedlare 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 13,000 shares outstanding on January 1, 2018 and dividends are not paid on treasury stook.) January 30 Reissue 900 shares of treasury stock for $20 per share January 31 Pay cash for salaries during January, $42.300. The following information is available on January 31, 2018. a. Unpaid utlities for the month of January are $6,500. b. Supplies at the end of January total $5,400. c. Deprecati non the equipment for the month of January is calculated using the straight-line method. At the time the equipment was purchased, the company estimated a service life of three years and a residual value of $10,300 Accrued income taxes at the end of J anuary are $2,300. General General Incomenslaace S
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