The answer choices only include: cash, accounts receivable, allowance for uncollectible accounts, notes receivable, interest receivable, inventory, supplies, prepaid rent, land, buildings, equipment, accumulated depreciation, accounts payable, salaries payable, utilities payable, interest payable, income taxes payable dividends payable, deferred revenue, notes payable, common stock, treasury stock, additional paid-in capital, retained earning, service revenue, interest revenue, cost of goods sold, advertising expense, depreciation expense, supplies expense, utilities expense, bad debt expense, interest expense, rent expense, income tax expense, and dividends. Please ONLY use these answer choices.

On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Credit Accounts Cash Accounts Receivable Debit $ 25,800 7,200 5,100 70,000 Supplies Land Accounts Payable Common Stock Retained Earnings $ 5,200 85,000 17,900 $108, 100 Totals $108, 100 During January 2021, the following transactions occur: January 2 Purchase rental space for one year in advance, $12,000 ($1,000/month). January 9 Purchase additional supplies on account, $5,500. January 13 Provide services to customers on account, $27,500. January 17 Receive cash in advance from customers for services to be provided in the future, $5,700. January 20 Pay cash for salaries, $13,500. January 22 Receive cash on accounts receivable, $26,100. January 29 Pay cash on accounts payable, $6,000. The following information is available on January 31. Rent for the month of January has expired. Supplies remaining at the end of January total $4,800. . By the end of January, $4,700 of services has been provided to customers who paid in advance on January 17. Unpaid salaries at the end of January are $4,400. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis 1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1 - 7). Review the "General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record the adjusting entries in the 'General Journal' tab (these are shown as items 8-11). 3. Review the adjusted 'Trial Balance as of January 31, 2021. 4. Prepare an income statement for the period ended January 31, 2021, in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of January 31, 2021 in the 'Balance Sheet' tab. 6. Record the closing entries in the 'General Journal' tab (these are shown as items 12 and 13). 7. Using the information from the requirements above, complete the 'Analysis' tab. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Prepare the journal entries for transactions. If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet 1 13 > Record the purchase of rental space for one year in advance, $12,000 ($1,000/month). Note: Enter debits before credits. Date Account Title Debit Credit Jan 02 Record entry Clear entry View general Journal Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Prepare the journal entries for transactions. If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet Record the purchase of additional supplies on account, $5,500. Note: Enter debits before credits. Date Account Title Debit Credit Jan 09 Record entry Clear entry View general journal Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Prepare the journal entries for transactions. If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet Record the providing of services to customers on account, $27,500. Note: Enter debits before credits. Date Account Title Debit Credit Jan 13 Record entry Clear entry View general Journal Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Prepare the journal entries for transactions. If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet ..... Record the receipt of cash in advance from customers for services to be provided in the future, $5,700. Note: Enter debits before credits Date Account Title Debit Credit Jan 17 Record entry Clear entry View general journal Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Prepare the journal entries for transactions. If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet 2 3 5 6 13 ..... Record the payment of cash for salaries, $13,500. Note: Enter debits before credits. . Date Account Title Debit Credit Jan 20 Record entry Clear entry View general journal Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Prepare the journal entries for transactions. If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet Record the receipt of cash on accounts receivable, $26,100. Note: Enter debits before credits. Date Account Title Debit Credit Jan 22 Record entry Clear entry View general journal Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Prepare the journal entries for transactions. If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet Record the payment of cash on accounts payable, $6,000. Note: Enter debits before credits. Date Account Title Debit Credit Jan 29 Record entry Clear entry View general journal Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Prepare the journal entries for transactions. If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet Record the adjusting entry for rent. Rent for the month of January has expired. Note: Enter debits before credits Date Account Title Debit Credit Jan 31 Record entry Clear entry View general Journal Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Prepare the journal entries for transactions. If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet Record the adjusting entry for supplies. Supplies remaining at the end of January total $4,800. Note: Enter debits before credits Date Account Title Debit Credit Jan 31 Record entry Clear entry View general Journal Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Prepare the journal entries for transactions. If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet Record the adjusting entry for services provided to customers who paid in advance. By the end of January, $4,700 of services has been provided to customers who paid in advance on January 17. Note: Enter debits before credits. Date Account Title Debit Credit Jan 31 Record entry Clear entry View general journal Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Prepare the journal entries for transactions. If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet Record the adjusting entry for salaries payable. Unpaid salaries at the end of January are $4,400. Note: Enter debits before credits. Date Account Title Debit Credit Jan 31 Record entry Clear entry View general journal Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Prepare the journal entries for transactions. If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet 10 11 12 13 > Record the entry to close the revenue accounts. Note: Enter debits before credits. Date Account Title Debit Credit Jan 31 Record entry Clear entry View general journal Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Prepare the journal entries for transactions. If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet Record the entry to close the expense accounts. Note: Enter debits before credits. Date Account Title Debit Credit Jan 31 Record entry Clear entry View general Journal Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Each journal entry is posted automatically to the general ledger. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Dates: Jan 01 to: Jan 29 General Ledger Account Cash Accounts Receivable No. Date Debit Credit Balance No. Date Debit Credit Balance Jan 01 25,800 Jan 01 7,200 Supplies Land No. Date Debit Credit Balance No. Date Debit Credit Balance Jan 01 5,100 Jan 01 70,000 Accounts Payable Common Stock No. Date Debit Credit Balance No. Date Debit Credit Balance Jan 01 5,200 Jan 01 85,000 Retained Earnings No. Date Debit Credit Balance Jan 01 17,900 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Notice the dropdown below that gives the options to select the unadjusted, adjusted or post-closing trial balance. The option you choose will be the values used to populate the income statement and balance sheet tabs. Unadjusted Dynamite Fireworks Trial Balance January 29, 2021 Account Title Debit Credit $ 25,800 7,200 5,100 70,000 Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Total 5,200 85,000 17,900 $ 108,100 $ 108, 100 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Prepare an income statement for the period ended January 31, 2021. Choose the appropriate accounts to complete the company's income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Dynamite Fireworks Income Statement For the year ended January 31, 2021 Revenues: Total Revenue 0 Expenses: Total Expenses 0 $ 0 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Prepare a classified balance sheet as of January 31, 2021. Choose the appropriate accounts to complete the company's balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Dynamite Fireworks Balance Sheet January 31, 2021 Assets Liabilities Current Assets: Current Liabilities: Cash $ 25,800 7,200 Accounts Receivable Prepaid Rent 0 Supplies 5,100 Total Current Liabilities 0 Total Current Assets 38,100 Total Liabilities 0 Long-term Assets: Stockholders' Equity 0 0 0 Total Stockholders' Equity 0 Total Assets $ 38,100 Total Liabilities & Stockholders' Equity $ 0 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Using the information from the requirements above, complete the 'Analysis' tab. Analyze the following features of Dynamite Fireworks' financial condition: (a) What is the amount of profit reported for the month of January? The amount of profit reported for the month of January is (6) Calculate the ratio of current assets to current liabilities at the end of January The ratio of current assets to current liabilities at the end of January is (c) Based on Dynamite Fireworks' profit and ratio of current assets to current liabilities, indicate whether Dynamite Fireworks appears to be in good or bad financial condition. Does the company appears to be in good or bad financial condition?