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Please comlete the following Journal Entries! Thank you so much, I rate good! On January 1. 2024, the general ledger of Grand Finale Fireworks includes
Please comlete the following Journal Entries! Thank you so much, I rate good!
On January 1. 2024, the general ledger of Grand Finale Fireworks includes the following account balances: During January 2024, the following transactions occur: Tanuary 2 issue an additiona1 2,100 shares of $1 par value comon stock for $42,000. Tanuary 9 Provide services to custoeers on account, $16,700, January 18 Purchase additional supplies on account, $5,600. January 12 Purchase 1,000 tharns of treasury stock for $20 per share. Tanvary 15 Pay cash on accounts payable, $17,200. Janvary 21 Providn services to custoners for cash, 549,500 . January 22 Meceive cash on accounts receivable, 317, 300. January 29 Declare a cash dividend of 50.20 per share to all shares outstanding on January 29. The dividend is payable on February 15. (Mint) Grand Finale Fireworks had 17 , 800 shares outstanding on January 1,2024 , and dividends ane not paid an treasury stock.) January te gesell thee shares of treasury stock fon $22 per share. Janwary 31 Pay cash for salarles durine lanuary, 142,700 . The following information is avallable on January 31,2024. a. Unpaid utalities for the month of Jartuary ate $6,900. b. Supplies at the end of January total $5,800. c. Depreciation on the equipment for the month of January is calculated using the straight -ine method. At the time the equipment was purchased, the company estimated a service life of three years and a residual value of $10,700. d. Accrued income taxes at the end of January are \$2700. The following information is available on January 31, 2024. a. Unpaid utilities for the month of January are $6.900 b. Supplies at the end of January total $5,800. c. Depreciation on the equipment for the month of January is calculated using the straight-4lne method. At the time the cquipment was purchased, the company estimated a service life of three years and a residial value of $10.700. d. Accrued income taxes at the end of January are $2,700. Prepare the journal entries for transactions, (If no entry is required for a transaction/event, select "No Journal Entry Required" account fleld.) Journal entry worksheet Step by Step Solution
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