On January 1, 2018, the general ledger of Grand Finale Fireworks includes the following account balances Debit Credit $ 44,200 Accounts Receivable 47.500 9,000 79,000 Accumulated Depreciation Accounts Payable Common Stock, $1 par value Additional Paid-in Capital Retained Earnings $ 10,500 16,100 15,000 95,000 43,100 Totals $179,700 $179,700 During January 2018, the following transactions occur: January 2 Issue an additional 2,200 shares of $1 par value common stock for $44,000 January 9 Provide services to customers on account, $18,300. January 10 Purchase additional supplies on account, $6,400 January 12 Repurchase 1,000 shares of treasury stock for $22 per share. January 15 Pay cash on accounts payable, $18,000 January 21 Provide services to customers for cash, $50,600. January 22 Receive cash on accounts receivable, $18,100 January 29 Declare a cash dividend of $0.30 per share to all shares outstanding on January 29. The dividend is payable on February 15 (Hint: Grand Finale Fireworks had 15,000 shares outstanding on January 1, 2018 and dividends are not paid on treasury stock.) January 30 Reissue 900 shares of treasury stock for $24 per share. January 31 Pay cash for salaries The following information is available on January 31, 2018 a. Unpaid utilities for the month of January are $7,700. b. Supplies at the end of January total $6,600 c. Depreciation on the equipment for the month of January is calculated using the straight-line method. At the time the equipment was purchased, the company during January, $43,500 estimated a service life of three years and a residual value of $11,500 d.Accrued income taxes at the end of January are $2,600. General General Trial Income Balance Analysis Journal Ledger Balance Statem Sheet Require... If no entry is required for a transaction/event, select "No journal entry required" in the first account field Debit Credit 44,00 Account Tite No Date Jan 02 Cash Common stock Aditional pais-in capital 2 Jan 09 Accounts receivable Service revenue 3 Jan 10 Accounts payable 4 Jan 12 Treasury stock 5 Jan 15 Accounts payable 18,00 6 Jan 21 Service revenue 18,1 7 Jan 22 18.10 8 Jan 29 Dividends 4,50 Dividends payable 21 Jan 30 Cash 19B0 Treasury stock Additional paid-n capital 43.50 10Jan 31 Salaries expense 43,50 Cash 11 Jan 31 Ubliies expense Utilities payable 2400 12 Jan 31 Supplies expense 2,1 13Jan 31 31 Income tax expense income tax payable 15 Jan 31 Service revenue 43,10 Bad debt expense Bad debt expense Jan 31 16 17 Jan 31 Cash General Ledger Requirement General Trial Balancestatement Income Balance Rqrementural General Choose the appropriate accounts to complete the company's income statement. will then populate the balances in those accounts from the adjusted trial balanc Post-closing Grand Finale Fireworks Multiple-Step Income Statement For the Month ended January 31, 2018 Total revenue 0 Total operating expenses 0 0 Balance Sheet KTrial Balance nal baiStatement Requirment Ledger Journal Choose the appropriate accounts to complete the company's balance sheet. Make sure to select 'adjusted' fr dropdown, which will then populate the balances in those accounts from the adjusted trial balance. Post-closing Grand Finale Fireworks Classified Balance Sheet January 31, 2018 Liabilities Assets Current Liabilities: Current Assets 0 Total Current Liabilities Total Current Assets Stockholders' Equity Noncurrent Assets Total Stockholders' Equity 0 Total Liabilities & Stockholders' Equity $ 0 Total Assets Analysis Income Statement
