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On January 1, 2018, the general ledger of Grand Finale Fireworks includes the following account balances: Credit Debit $ 43,200 45,500 8,000 69,000 Accounts Cash

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On January 1, 2018, the general ledger of Grand Finale Fireworks includes the following account balances: Credit Debit $ 43,200 45,500 8,000 69,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common Stock, $1 par value Additional Paid-in Capital Retained Earnings $ 9,500 15,100 15,000 85,000 41,100 Totals $165,700 $165,700 During January 2018, the following transactions occur: January 2 Issue an additional 2,000 shares of $1 par value common stock for $40,000. January 9 Provide services to customers on account, $15,600. January 10Purchase additional supplies on account, $5,400. January 12 Repurchase 1,200 shares of treasury stock for $17 per share. January 15 Pay cash on accounts payable, $17,000. January 21Provide services to customers for cash, $49,600. January Receive cash on accounts receivable, $17,100. January Declare a cash dividend of $0.30 per share to all shares outstanding on 29 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 Reissue 800 shares of treasurv stock for $19 per share. 22 January Reissue 800 shares of treasury stock for $19 per share. 30 January 31Pay cash for salaries during January, $42,500. The following information is available on January 31, 2018. a. Unpaid utilities for the month of January are $6,700. b. Supplies at the end of January total $5,600. 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 estimated a service life of three years and a residual value of $10,500. d. Accrued income taxes at the end of January are $2,500. View transaction list Journal entry worksheet View transaction list Journal entry worksheet

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