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On January 1. 2021, the general ledger of Dynamite Fireworks includes the following account balances Debit Credit Accounts $24,90e 6,300 4,200 61,eee Cash Accounts Receivable
On January 1. 2021, the general ledger of Dynamite Fireworks includes the following account balances Debit Credit Accounts $24,90e 6,300 4,200 61,eee Cash Accounts Receivable Supplies Land $ 4,30e 76, eee 16,10e Accounts Payable Common Stock Retained Earnings $96,408 $96,400 Totals During January 2021, the following transactions occur: January January January 13 Provide services to customers on account, $26,600 January 17 Receive cash in advance from customers for services to be provided January 28 Pay cash for salaries, $12,600 January 22 Receive cash on accounts receivable, $25,208 January 29 Pay cash on accounts payable, $5,108 2 Purchase rental space for one year in advance, $9,300 ($775/month). 9 Purchase additional supplies on account, $4,608 the future, $4,800 The following information is available on January 31. Rent for the month of January has expired. Supplies remaining at the end of January total $3,900. By the end of January, $4,025 of services has been provided to customers who paid in advance on January 17. Unpaid salaries at the end of January are $5,030 General Ledger General Journal Income Trial Balance Balance Sheet Analysis Requirement Statement 1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 7). Review the General Ledger' and the Trial Balance' tabs to see the effect of the transactions on the account balances 2. Record the adjusting entries in the 'General Journal' tab (these are shown as items 8-11) 3. Review the adjusted 'Trial Balance' as of January 31, 2021 4. Prepare an income statement for the period ended January 31, 2021, in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of January 31, 2021 in the 'Balance Sheet' tab 6. Record the closing entries in the 'General Journal' tab (these are shown as items 12 and 13). 7. Using the information from the requirements above, complete the 'Analysis' tab
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