Required information

[The following information applies to the questions displayed below.]

On January 1, 2021, the general ledger of Grand Finale Fireworks includes the following account balances:

Accounts	Debit			Credit
Cash	$	44,500
Accounts Receivable		48,100
Supplies		9,300
Equipment		82,000
Accumulated Depreciation				$	10,800
Accounts Payable					16,400
Common Stock, $1 par value					18,000
Additional Paid-in Capital					98,000
Retained Earnings					40,700
Totals	$	183,900		$	183,900

During January 2021, the following transactions occur:

January		2		Issue an additional 2,000 shares of $1 par value common stock for $40,000.
January		9		Provide services to customers on account, $19,500.
January		10		Purchase additional supplies on account, $6,700.
January		12		Purchase 1,200 shares of treasury stock for $21 per share.
January		15		Pay cash on accounts payable, $18,300.
January		21		Provide services to customers for cash, $50,900.
January		22		Receive cash on accounts receivable, $18,400.
January		29		Declare a cash dividend of $0.30 per share to all shares outstanding on January 29. The dividend is payable on February 15. (Hint: Grand Finale Fireworks had 18,000 shares outstanding on January 1, 2021, and dividends are not paid on treasury stock.)
January		30		Resell 600 shares of treasury stock for $23 per share.
January		31		Pay cash for salaries during January, $43,800.

1. Unpaid utilities for the month of January are $8,000.
2. Supplies at the end of January total $6,900..
3. Depreciation on the equipment for the month of January is calculated using the straightline method. At the time the equipment was purchased, the company estimated a service life of three years and a residual value of $11,800..
4. Accrued income taxes at the end of January are $2,900.

3. Prepare an adjusted trial balance as of January 31, 2021.

GRAND FINALE FIREWORKS
Adjusted Trial Balance
January 31, 2021
Accounts	Debit	Credit
Cash
Accounts Receivable
Inventory
Totals	$0	$0