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On January 1, 2024, the general ledger of Grand Finale Fireworks includes the following account balances: During January 2024 , the following transactions occur: January
On January 1, 2024, the general ledger of Grand Finale Fireworks includes the following account balances: During January 2024 , the following transactions occur: January 2 Issue an additional 2,200 shares of $1 par value common stock for $44,000. January 9 Provide services to customers on account, $16,600. January 10 Purchase additional supplies on account, $5,900. January 12 Purchase 1,200 shares of treasury stock for $24 per share. January 15 Pay cash on accounts payable, $17,500. January 21 Provide services to customers for cash, $50,100. January 22 Receive cash on accounts receivable, $17,600. January 29 Declare a cash dividend of $0.20 per share to all shares outstanding on January 29. The dividend is payable on February 15. (Hint: Grand Finale Fireworks had 10,000 shares outstanding on January 1, 2024, and dividends are not paid on treasury stock.) January 30 Resell 600 shares of treasury stock for $26 per share. January 31 Pay cash for salaries during January, \$43,000. The following information is available on January 31, 2024. a. Unpaid utilities for the month of January are $7,200. b. Supplies at the end of January total $6,100. 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 $11,000. d. Accrued income taxes at the end of January are $2,100. Journal entry worksheet 245678 Record issuance of an additional 2,200 shares of $1 par value common stock for $44,000. Note: Enter debits before credits. Prepare a multiple-step income statement for the period ended January 31,2024 . Choose the appropriate accounts to complete the company's income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. repare a classified balance sheet as of January 31,2024 . Choose the appropriate accounts to complete the company's alance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Using the information from the requirements above, complete the 'Analysis' tab. (Enter your return on equity value to one decimal p and earnings per share value to 2 decimal places.)
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