Required: 1. Record each of the transactions listed above. 2. Record the adjusting entries on January 31. . Rent for the month of January has expired. .Supplies remaining at the end of January total $2,800. All other supplies have been used. By the end of January, $3,200 of services has been provided to customers who paid in advance on January 17. . Unpaid salaries at the end of January are $5,800 3. Prepare an adjusted trial balance as of January 31, 2024. 4. Prepare an income statement for the period ended January 31, 2024. 5. Prepare a classified balance sheet as of January 31, 2024. 6. Record closing entries 7. Analyze the following features of Dynamite Fireworks financial condition a. What is the amount of profit reported for the month of January? b. Calculate the ratio of current assets to current liabilities (the current ratio) at the end of January c. Based on Dynamite Fireworks' profit and ratio of current assets to current liabilities, indicate whether Dynamite Fireworks app be in good or bad financial condition. Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 Req 4 Req 5 Req 6 Req 7a Req 7b Prepare a classified balance sheet as of January 31, 2024. DYNAMITE FIREWORKS Balance Sheet January 31, 2024 Assets Liabilities Current assets Current liabilities Total current liabilities Total current assets Long-term assets O Stockholder's Equity: Total stockholders' equity Total assets 0 Total liabilities and stockholders' equity $ On January 1, 2024, the general ledger of Dynamite Fireworks includes the following account balances: Accounts Cash Debit $23,800 Credit Accounts Receivable Supplies 5,200 3,1 Land se, eee Accounts Payable $3. Common Stock 65.000 Retained Earnings 13900 Totals $82,100 582,100 During January 2024, the following transactions occur January 2 Purchase rental space for one year in advance, $6,000 ($50/month). January 9 Purchase additional supplies on account, $3,500. January 13 Provide services to customers on account, $25,seb. January 17 Receive cash in advance from customers for services to be provided in the future, $3,700. January 28 Pay cash for salaries, $11,500. January 22 Receive cash on accounts receivable, $24,100. January 29 Pay cash on accounts payable, $4,000. Required: 1. Record each of the transactions listed above. 2. Record the adjusting entries on January 31, Rent for the month of January has expired. . Supplies remaining at the end of January total $2,800. All other supplies have been used. By the end of January, $3,200 of services has been provided to customers who paid in advance on January 17 Unpaid salaries at the end of January are $5,800. On January 1, 2024, the general ledger of Dynamite Fireworks includes the following account balances Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $23,800 Credit 5,200 3,100 50,000 $3,200 65,000 13,900 $82,100 582,100 During January 2024, the following transactions occur January 2 Purchase rental space for one year in advance, $6,000 (5500/month). January Purchase additional supplies on account, $3,500. January 13 Provide services to customers on account, $25,500. January 17 Receive cash in advance from customers for services to be provided in the future, $3,700. January 20 Pay cash for salaries, $11,500. January 22 Receive cash on accounts receivable, $24,100. January 29 Pay cash on accounts payable, $4,000. Required: 1. Record each of the transections listed above. 2. Record the adjusting entries on January 31 " Rent for the month of January has expired. Supplies remaining at the end of January total $2.800. All other supplies have been used. By the end of January, $3,200 of services has been provided to customers who paid in advance on January 17 Unpaid salaries at the end of January are $5.800. 3. Prepare an adjusted trial balance as of January 31, 2024 4. Prepare an income statement for the period ended January 31, 2024 5. Prepare a classified balance sheet as of January 31, 2024 6. Record closing entries. 7. Aralyze the following features of Dynamite Fireworks financial condition a. What is the amount of profit reported for the month of January? b. Calculate the ratio of current assets to current liabilities (the current ratio) at the end of January c. Based on Dynamite Fireworks' profit and ratio of current assets to current liabilities, indicate whether Dynamite Fireworks appears to be in good or bad financial condition Required: 1. Record each of the transactions listed above. 2. Record the adjusting entries on January 31 . Rent for the month of January has expired. . Supplies remaining at the end of January total $2,800. All other supplies have been used. . By the end of January, $3,200 of services has been provided to customers who paid in advance on January 17. Unpaid salaries at the end of January are $5,800 3. Prepare an adjusted trial balance as of January 31, 2024. 4. Prepare an income statement for the period ended January 31, 2024. 5. Prepare a classified balance sheet as of January 31, 2024. 6. Record closing entries. 7. Analyze the following features of Dynamite Fireworks' financial condition: a. What is the amount of profit reported for the month of January? b. Calculate the ratio of current assets to current liabilities (the current ratio) at the end of January c. Based on Dynamite Fireworks profit and ratio of current assets to current liabilities, indicate whether Dynamite Fire be in good or bad financial condition. Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req 3 Req 4 Req 5 Req 6 Req 7a Req 76 Req 7c Prepare a classified balance sheet as of January 31, 2024. DYNAMITE FIREWORKS Balance Sheet January 31, 2024 Assets Liabilities Current assets: Current liabilities Total current assets Long-term assets Total current liabilities Stockholder's Equity Total stockholders' equity Total liabilities and stockholders' equity Total assets