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thank you On January 1, 2021, the general ledger of Grand Finale Fireworks includes the following account balances: Credit Debit $ 42,900 44,900 7,700 66,000
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On January 1, 2021, the general ledger of Grand Finale Fireworks includes the following account balances: Credit Debit $ 42,900 44,900 7,700 66,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common Stock, 51 par value Additional Paid-in Capital Retained Earnings Totals $ 9,209 14.00 12.00 82.000 43,500 $161,500 $161,500 During January 2021, the following transactions occur January 2 Issue an additional 2,200 shares of $1 par value connon stock for $44,000. January 9 Provide services to customers on account, $14,800. January 10 Purchase additional supplies on account, $5,100. January 12 Purchase 1,000 shares of treasury stock for $20 per shar January 15 Pay cash on accounts payable, $16,700. January 21 Provide services to customers for cash, $49.300. January 22 Receive cash on accounts receivable, $16.500. 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 12,000 shares outstanding on January 1, 2021, and dividends are not paid on treasury stock.) January 30 Resell 700 shares of treasury stock for $22 per share. January 31 Pay cash for salaries during January, $42,200. The following information is available on January 31, 2021 a. Unpaid utilities for the month of January are $6,400. b. Supplies at the end of January total $5,300. c. Depreciation on the equipment for the month of January is calculated using the straightline method. At the time the equipment was Durchased, the company estimated a service life of three years and a residual value of $10,200 d. Accrued income taxes at the end of January are $2.200. View transaction list Journal entry worksheet
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