On January 1, 2021, the general ledger of Grand Finale Fireworks includes the following account balances: Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common Stock $1 par value Additional Paid-in Capital Retained Earning Total Debit Credit $ 43,200 45,500 8,000 69,000 $ 9,500 15, 100 15,000 85,000 41,100 $165,700 $165,700 During January 2021, the following transactions occur: 2 Tsue an additional 2,000 shares of $1 par valve common stock for $40,000. January 9. Provide services to customers on account, $15,600. January 10 Purchase additional supplies on account, $5,400. January 12 Purchase 1,200 shares of treasury stock for $17 per share January 15 Pay cash on accounts payable, $17,000 January 21 provide services to customers for cash, 549,600. January 22 Receive cash on accounts receivable, $17,100. 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 bad 15,000 shares outstanding on January 1, 2021, and dividende are not paid on treasury stock) January 30 Resell 800 shares of treasury stock for $19 per share January 31 Pay cash for salaries during January: $42,500. The following information is available on January 31, 2021. 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 straightline 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 Arrnier income at the end of Innvar 2500 Nout 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. General General Requirement Trial Balance Income Balance Sheet Journal Analysis Statement Ledger Choose the appropriate accounts to complete the company's income statement. Select 'adjusted from the dropdown, which will then populate the balances in those accounts from the adjusted trial balance. Adjusted Grand Finale Fireworks Multiplo-Step Income Statement For the Month onded January 31, 2021 Total Revenue $ 0 Total Operating Expenses 0 0 $ 0 Grand Finale Fireworks Trial Balance January 31, 2021 Account Title Credit $ Debit 85,200 44,000 5,600 69,000 11,125 3,500 6,700 2,500 4,740 17,000 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Utilities Payable Income Tax Payable Dividends Payable Common Stock Treasury Stock Additional Paid-in Capital Retained Earnings Dividends Service Revenue Depreciation Expense Supplies Expense Salaries Expense Us Expense Income Tax Experise Total 6,800 124.600 41,100 4,740 65,200 1,625 7,800 42,500 6,700 2,500 276,465 S $ 276,465
