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Required information On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Credit Debit Accounts Cash $ 25,400 6,800 4,700
Required information On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Credit Debit Accounts Cash $ 25,400 6,800 4,700 66,000 Accounts Receivable Supplies Land Accounts Payable $ 4,800 81,000 17,100 Common Stock Retained Earnings $102,900 $102,900 Totals During January 2021, the following transactions occur: January 2 Purchase rental space for one year in advance, $10,800 ($900/month). January9 Purchase additional supplies on account,$5,100 January 13 Provide services to customers on account, $27,100 January 17 Receive cash in advance from customers for services to be provided in the future, $5,300 January 20 Pay cash for salaries, $13,100 January 22 Receive cash on accounts receivable, $25,700. January 29 Pay cash on accounts payable, $5,600. 5. Prepare a classified balance sheet as of January 31, 2021. DYNAMITE FIREWORKS Balance Sheet January 31, 2021 Assets Liabilities Current assets: Current liabilities Total current liabilities Total current assets Stockholder's Equity Long-term assets: Total stockholders' equity 0 $0Total liabilities and stockholders' equity $0 Total assets
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