On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Credit Debit Accounts $24,800 6,200 4,100 60,000 Cash Accounts Receivable Supplies Land 4,200 75,000 15,900 Accounts Payable Common Stock Retained Earnings $95,100 $95,100 Totals During January 2021, the following transactions occur 2 Purchase rental space for one year in advance, $9,000 ($750/month) 9 Purchase additional aupplies on account, $4,500 January January January 13 Provide services to customers on account, $26,500. January 17 Receive cash in advance from customers for services to be provided in the future, $4,700 January 20 Pay cash for salaries, $12,500. January 22 Receive cash on accounts receivable, $25,100 January 29 Pay cash on accounts payable, $5,000. The following information is available on January 31, Rent for the month of January has expired. Supplies remaining at the end of January total $3,800 By the end of January, $3,950 of services has been provided to customers who paid in advance on January 17 Unpaid salaries at the end of January are $5,100. Income General General Journal Balance Sheet Analysis Trial Balance Requirement Ledger 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. Ceneral Journal View transaction list View journal entry worksheet 9,000 Prepaid Rent Jan 02 1 9,000 Cash 4,500 2 Supplies Accounts Payable Jan 09 4,500 3 26,500 Accounts Receivable Jan 13 26,500 Service Revenue 4,700 Cash Jan 17 4,700 Deferred Revenue 12,500 Salaries Expense Jan 20 12.500 Cash 25,100 Cash 6 Jan 22 25,100 Accounts Receivable 5,000 Accounts Payable Jan 29 7 5,000 Cash 750 Rent Expense Prepaid Rent Jan 31 8 750 4,800 Supplies Expense Jan 31 4,800 Supplies 3,950 Deferred Revenue Jan 31 10 3,950 Service Revenue 5.100 Salaries Expense Jan 31 11 5,100 Salares Payable 30,450 Service Revenue 12 Jan 31 30,450 Retained Eamings 23,150 Reta ned Eanings 13 Jan 31 17.600 Salares Expense 750 Rent Exporse 4800 Supplios Expense General General Income Statement Requirement Balance Sheet Trial Balance Ana Ledger Jounal Prepare the journal entries for transactions. If no entry is required for a particular transactic the first account ield. View transaction list Journal entry worksheet
