Required information On January 1, 2024, the general ledger of TNT Fireworks includes the following account balances: During January 2024, the following transactions occur: January 1 Purchase equipment for $21,000. The company estimates a residual value of $3,000 and a six-year service life. January 4 Pay cash on accounts payable, $11,000. January 8 Purchase additional inventory on account, $97,900. January 15 Receive cash on accounts receivable, $23,500. January 19 Pay cash for salaries, $31,360. January 28 Pay cash for January utilities, $18,000. January 30 Firework sales for January total $235,000. All of these sales are on account. The cost of the units sold is $122,500. Information for adjusting entries: a. Depreciation on the equipment for the month of January is calculated using the straight-line method. b. The company records an adjusting entry for $3,250 for estimated future uncollectible accounts. c. The company has accrued interest on notes receivable for January. d. Unpaid salaries owed to employees at the end of January are $34,100. e. The company accrued income taxes at the end of January $10,500. 3. Prepare an adjusted trial balance as of January 31, 2024. Required information On January 1,2024, the general ledger of TNT Fireworks includes the following account balances: During January 2024, the following transactions occur: January 1 Purchase equipment for $21,000. The company estimates a residuat value of $3,000 and a $ixyear service life. January 4 pay cash on accounts payable, $11,000. January 8 Purchase additionat inventory on account, $97,900. January is Receive cash on accounts receivable, $23,560. January 19 Pay cash for salaries, $31,300. January 28 Pay cash for January utitities, $18,000. January 30 Firework sales for January total $235,000. All of these sales are on account. The cost of the units sold is $122,580. Information for adjusting entries: a. Depreciation on the equipment for the month of January is calculated using the straight-line method. b. The company records an adjusting entry for $3,250 for estimated future uncollectible accounts. c. The company has accrued interest on notes receivable for January. d. Unpaid salaries owed to employees at the end of January are $34,100. e. The company accrued income taxes at the end of January $10,500. 4. Prepare a multiple-step income statement for the period ended January 31, 2024. On January 1, 2024, the general ledger of TNT Fireworks includes the following account balances: During January 2024, the following transactions occur: January 1 Purchase equipment for $21,000. The company estinates a residual value of $3,000 and a six-year service life. January 4 pay cash on accounts payable, $11,000. January 8 Purchase additional inventory on account, $97,900. January 15 Receive cash on accounts receivable, $23,500. January 19 Pay cash for salaries, $31,300. January 28 Pay cash for January utilities, $18,000. January 30 Firework sales for January total $235,000. All of these sales are on account. The cost of the units sold is $122,500. Information for adjusting entries: a. Depreciation on the equipment for the month of January is calculated using the straight-line method. b. The company records an adjusting entry for $3,250 for estimated future uncollectible accounts. c. The company has accrued interest on notes recelvable for January. d. Unpaid salaries owed to employees at the end of January are $34,100. e. The company accrued income taxes at the end of January $10,500. 2. Record the adjusting entries on January 31 for the above transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Required information On January 1, 2024, the general ledger of TNT Fireworks includes the following account balances: Duting January 2024 , the following transactions occur: January 1 Purchase equipment for $21,eee. The company estinates a residual value of $3,00e and a 51x-year service tife. January 4 Pay cash on accounts payable, $11,000. January 8 Purchase additionat inventory on account, $97,900. January 15 Receive cash on accounts receivable, $23,5eg. January 19 Pay cash for salaries, 531,300. January 28 Pay cash for Jonuory utilities, $18,e00. January 30 Firework sales for January total $235,000. All of these sales are on account. The cost of the units sold is $122,500. Information for adjusting entries: a. Depreclation on the equipment for the month of January is calculated using the straight-line method. b. The company records an adjusting entry for $3,250 for estimated future uncollectible accounts. c. The company has accrued interest on notes recelvable for January. d. Unpaid salaries owed to employees at the end of January are $34,100. e. The company accrued income taxes at the end of January $10,500. 5. Prepare a classified balance sheet as of January 31, 2024. (Amounts to be deducted should be indicated by a minus sign.) On January 1, 2024, the general ledger of TNT Fireworks includes the following account balances: During January 2024, the following transactions occur: January 1 Purchase equipment for $21,000. The company estimates a residual value of $3,000 and a $1x-year service life. January 4 Pay cash on accounts payable, $11,000. January 8 Purchase additional inventory on account, $97,900. January 15 Receive cash on accounts receivable, $23,500. January 19 Pay cash for salaries, $31,300. January 28 pay cash for January utilities, $18,000. January 30 Firework sales for January total $235,000. All of these sales are on account. The cost of the units sold is $122,5e0. Information for adjusting entries: a. Depreciation on the equipment for the month of January is calculated using the straight-line method. b. The company records an adjusting entry for $3,250 for estimated future uncollectible accounts. c. The company has accrued interest on notes recelvable for January. d. Unpaid salaries owed to employees at the end of January are $34,100. e. The company accrued income taxes at the end of January $10,500. 7. Analyze how well TNT Fireworks manages its assets: Requirement 7a: a-1. Caiculate the return on assets ratio, profit margin and asset turnover ratio for the month of January