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Required Information On Jonuary 1, 2024, the general ledger of TNT Fireworks includes the following occount bolances: During Jonuary 2024, the following transactions occur: 1
Required Information On Jonuary 1, 2024, the general ledger of TNT Fireworks includes the following occount bolances: During Jonuary 2024, the following transactions occur: 1 ife. January 4 Pay cash on accounts payable, \$10, 100. January g Purchase additional inventory on account, $88,980. January 15 Receive cash on accounts rcceivable, $22,690. January 19 Pay cash for salarics, $30,4e. January 28 Pay cash for January utilitics, $17,100. $118, e. Information for adjusting entries: a. Depreciation on the equipment for the month of Janusry is calculsted using the straight-line method. b. The compsny records an adjusting entry for $5,780 for estimated future uncollectible sccounts. c. The company has accrued interest on notes receivable for Jonuary. d. Unpaid salaries owed to employees at the end of January are $33,200. e. The company accrued income toxes at the end of January $9,600. Record the adjusting entries on Jonusry 31 for the obove tronsactions. (If no entry is required for a particular transaction/event, elect "No Journal Entry Required" In the first account field.) Required Information On Jonuary 1, 2024, the general ledger of TNT Fireworks includes the following account bolances: During Jonuary 2024, the following trensactions occur: life. January 4 Pay cash on accounts payable, \$10, 109. January g Purchase additional inventory on account, \$8s,980. January 15 Receive cash on accounts rcceivable, $22,600. January 19 Pay cash for salarics, \$39, 480. January 28 Pay cash for January utilitics, $17,1eg. $118, ee. Information for adjusting entries: a. Depreciation on the equipment for the month of Janusry is calculsted using the straight-line method. b. The company records an acjusting entry for $5,780 for estimated future uncollectible accounts. c. The company has accrued interest on notes receivable for Jonuary. d. Unpsid salaries owed to employees at the end of Janusry are $33,200. e. The company accrued income toxes at the end of January $9,600. 3. Prepore on sojusted trial bolance os of Jonusry 31, 2024. Required Information On Jsnuory 1, 2024, the general ledger of TNT Fireworks includes the following account balances: During Jenuary 2024, the following trensactions occur: January 1 Purchase cquipment for \$20,1ee. The company estimates a residual value of \$2,190 and a four-ycar service life. January 4 Pay cash on accounts payable, \$10,1e0. January \& Purchase additional inventory on account, \$88,98e. January 15 Receive cash on accounts receivable, $22,600. January 19 Pay cash for salarics, \$30,4ee. January 28 Pay cash for January utilitics, \$17,1ee. January 30 Firework sales for January total \$226, eee. All of these sales are on account. The cost of the units sold is $118, eee. Information for acjusting entries: a. Depreciation on the equipment for the month of Janusry is calculated using the straight-line method. b. The compsny records an odjusting entry for $5,780 for estimated future uncollectible accounts. c. The company has accrued interest on notes receivable for January. d. Unpsid salaries owed to employees at the end of Janusry are $33,200. e. The compony accrued income toxes at the end of Jsnuary $9,600. 4. Prepsre a multiple-step income statement for the period ended Jonuary 31, 2024
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