On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: 1 Credit Debit $24,800 6,200 4,100 Account Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals 60,000 Part 1 of 6 $ 4,200 75,000 15.900 $95,100 $95, 100 0102.45 During January 2021, the following transactions occur January 2 Purchase rental space for one year in advance, $9,000 ($750/month). January Purchase additional supplies on account, $4,500. 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. 1. Record each of the transactions listed above. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) View transaction list View journal entry worksheet NO General Journal Credit Date January 02 1 Prepaid Rent Cash Debit 9.000 9,000 2 2 January 09 4,500 Supplies Accounts Payable 4,500 January 13 Accounts Receivable Service Revenue 26,500 26,500 4 January 17 4,700 Cash Deferred Revenue 4,700 5 January 20 Salaries Expense Cash 12,500 12,500 6 January 22 Cash 25,100 0 2 Required information On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Part 2 of 6 Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $24,800 6,200 4,100 60,000 01:02:28 $ 4,200 75,000 15,900 $95, 100 $95.100 During January 2021, the following transactions occur January 2 Purchase rental space for one year in advance, $9,000 (750/month). January 9 Purchase additional supplies on account, $4,500. 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. 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. 2. Record the adjusting entries on January 31 for the above transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 > Record the adjusting entry for rent. Rent for the month of January has expired. Note: Enter debits before credits Seved 3 Required information On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Part 3 of 6 Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $24,800 6,200 4,100 60,000 8 01.02.09 $ 4,200 75,000 15,900 $95, 100 $95,100 During January 2021, the following transactions occur. January 2 Purchase rental space for one year in advance, $9,000 ($750/month). January 9 Purchase additional supplies on account, $4,500. 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 accounts payable, $5,000. 3. Prepare an adjusted trial balance as of January 31, 2021. DYNAMITE FIREWORKS Adjusted Trial Balance January 31, 2021 Debit Accounts Credit TEST 2 (Chaper 3) Saved 4 Required information On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Part 4 of 6 Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $24,800 6,200 4,100 60,000 X 01:0457 $ 4,200 75,000 15,900 $95, 100 $95, 100 During January 2021, the following transactions occur: January 2 Purchase rental space for one year in advance, $9,000 ($750/month). January 9 Purchase additional supplies on account, $4,500. 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. 4. Prepare an income statement for the period ended January 31, 2021. DYNAMITE FIREWORKS Income Statement For the year ended January 31, 2021 Revenues: Expenses Saved O 5 art 5 of 6 Required information On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Accounts Debit Credit Cash $24,800 Accounts Receivable 6,200 Supplies 4,100 Land 60,000 Accounts Payable $ 4,200 Common Stock 75,000 Retained Earnings 15,900 Totals $95, 100 $95,100 01:01:48 During January 2021, the following transactions occur January 2 Purchase rental space for one year in advance, $9,000 ($750/month). January 9 Purchase additional supplies on account, $4,500. January 13 Provide services to customers 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. 5. Prepare a classified balance sheet as of January 31, 2021. DYNAMITE FIREWORKS Balance Sheet January 31, 2021 Assets Liabilities Current assets: Current liabilities: EST 2 (Chaper 3) i Saved 6 Required information On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Part 6 of 6 Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $24,800 6,200 4,100 60,000 01:01:36 $ 4,200 75,000 15,900 $95, 100 $95, 100 During January 2021, the following transactions occur: January 2 Purchase rental space for one year in advance, $9,000 ($750/month). January 9 Purchase additional supplies on account, $4,500. January 13 Provide services to customers on account, $26,500. January 17 Receive cash in advance from customers for services to be provided in January 20 Pay cash for salaries, $12,500. January 22 Receive cash accounts receivable, $25,100. January 29 Pay cash on accounts payable, $5,000. future, $4,700. 6. Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the entry to close the revenue accounts