9 Pa 3 0.83 points On January 2021 the general ledger of Grand Finse Freworks includes the following account balances Ac

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9 Pa 3 0 83 Points On January 2021 The General Ledger Of Grand Finse Freworks Includes The Following Account Balances Ac 1 (40.71 KiB) Viewed 30 times

9 Pa 3 0 83 Points On January 2021 The General Ledger Of Grand Finse Freworks Includes The Following Account Balances Ac 2 (34.27 KiB) Viewed 30 times

9 Pa 3 0 83 Points On January 2021 The General Ledger Of Grand Finse Freworks Includes The Following Account Balances Ac 3 (44.81 KiB) Viewed 30 times

9 Pa 3 0 83 Points On January 2021 The General Ledger Of Grand Finse Freworks Includes The Following Account Balances Ac 4 (33.6 KiB) Viewed 30 times

9 Pa 3 0.83 points On January 2021 the general ledger of Grand Finse Freworks includes the following account balances Accounts Debit Creati Cash Accounts Receivable Supplies p 44,99 accumulated Depreciation accounts Payab $ 5,00 $4,400 somon stock, 11 par val Additional Pas-Capital detained Earnings *** 41,100 Total 9258,700 ISK 799 Dusing Jenuary 2021, the following transactions occur January 1 Issue in aditional 2,0 hares of 11 are common stack for $48, January 3 Provide services to custas et, 114, January 18 Purchase writional supplies $4,000 January 12 Purchase 3,000 shares of treinary stack for $28 je ster January 15 Pay cash accounts payable, $4,500 January 21 Provide services to customers for cash, $40,00 January 22 Receive cash on accounts recei, 536, January 29 Declara ca dividend at 34.30 per share to dividend is patie on February 21. Ost utstanding on January 3, 2013, and dividends January all shares of treasury stock for £ per share. January 11 Pay cash for salaries during Juary $42,00 share outstanding on January 28, The Grand Finale Fireworks had 38,000 not paid on treasury steck) Exercise 10-17 Part 3 a Unpaid uelites for the month of January ere $6.200 b Supplies at the end of January total $5300 Depreciation on the equipment for the month of January is calculated using the straightine method At the time the equipment was purchased the company estimated a service life of three years and a residual value of $10,000 d Accrued income taas at the end of January we $2.000 3. Prepare an adjusted tiel belence as of January 31, 2021 Answer is not complete. GRAND FINALE FIREWORKS Adjusted Trul Balance January 21, 2021 Accounts Cash Os Accounts Receivable O Supplies O Equpmeet O Accumulated Depreciation Accounts Payable Common Stock Additional Ped-in Cap Retained Eamings Tauty Sock Uits Expense Suppies Expense Depreciation Experie Income Tax Expense Service Revenue · O 105004 3000 12.000 Ⓒ 300Ⓒ 82.500 O 1.200 Ⓒ O $200 Ⓒ 2,400 - 15000 22000 (34000 214.500 $ 250.000 O O O 81.900 - €2000 £1000 $4,000 00000 Cinde Return to question
10 Part 46 0.83 ponts Pe Required information Exercise 10-17 Complete the accounting cycle using stockholders' equity transactions (LO10-2. 10-4, 10-5, 10-8) The following information apples to the questions displayed below] On January 1, 2021, the general ledger of Grand Fine Fireworks includes the following account balances Accounts DABIL ONEIT Cash Accounts Receive $ 47,700 44,140 Supplies 7,500 $4,000 #quipment. $ 3,000 Accumulated Depreciation accounts Payable 14,649 38,600 Common stock, 11 par value Additional Paid-in Capital Retained and 10,000 41.300 Totals $158,700 1,700 During January 2021, the following transactions occur January 21 an additional 2,000 shares of $ par valtak for $40,000 January Provide services to customers on account, $4,500 January 16 Purchase additional supplies on account, $4,500. January 12 Purchase 2,000 shares of treasury stack for $10 per share. January 25 Pay cash on accounts pay $15.500. January 21 Provide services to customers for cash, 549,00 January 22 Receive cash in accounts receivable, $30,000. January 29 Declars cash divident of $0.10 per here to all shares utstanding on January 20. The is payable on February 15, (et: Grand Finale Fireworks had 10,000 shares outstanding on January 1, 2921, and clients are not paid on treasury stock.) January 36 ll se shares of treasury stock for $22 per share January 31 Pay cash for salaries during January, $3,000 Exercise 10-17 Part 4 4. Prepare an income statement for the period ended January 31, 2021 GRAND FINALE FIREWORKS Income Statement For the muntended January 31, 2021 Revenu Exper 1 Income Before Tas
11 Part of 0.83 post S Rock Check my work Required information Exercise 10-17 Complete the accounting cycle using stockholders' equity transactions (LO10-2, 10-4, 10-5, 10-8) (The following intonation applies to the questions displayed On January 1 2021 the general ledger of Grand Finsle Fireworks includes the following account balances accounts Debit Cress Cash $ 41,700 Accounts Receivable 44,500 Supplies 7,500 Eqviment $4,000 Accumulated Depreciation Accounts Payable Comen Stack, 51 par salue Additional Paid-in Capital Retained Earnings Total $18,0 18, During January 2021, the following transactions occur January 2 Issue an additional 2,000 shares of 31 par value common stock for $4,800. January 9 Previde services to customers on account, $14,100 January 18 Purchase additional supplies on account, $4,000. January 12 Purchase 1,400 shares of treasury stack for 8 per stare January 15 Pay cash on accounts payable, $14,500. January 21 Provide services to customers for cash, 149,00 January 22 Receive cast on accounts receivable, $2,600. January 29 Declare a cash dividend of se.se per share to all shares outstanding on January 23. The is payable on February 15. (Hire Grand Finale Fireworks had 30,000 shares outstanding on January 1, 2001, and dividends are not paid on treasury stock. January 30 Resell ose shares of treasury stock for $20 per share. January 11 Pay cash for salaries during January, $4,000. Exercise 10-17 Part 5 5. Prepare e dassified balance sheet as of January 31, 2021 (Amounts to be deducted should be indicated by a minus sign) GRAND FINALE FIREWORKS Classid Balance Sheet January 31, 201 Assets Labines Stockholders' Equity Total Cument Assols Total As $ $9,000 14,00 10,000 30,000 41,300 DF 0 Toral CurmertUtales Total Stockholde Equity Total Lucian and Socks Equty
12 0.117 Seco Check my work Jury 21 Provide services to customers for cash, 149,00 January 23 sive cash accounts receivable, $4,400 January 28 Declare cash and 10.30 per share all tatandingery 23. The dividend is payabl ervary Grand Finale Pires ha 18,00 stars outstanding on January 1, 282, and ends January shares of treasury sts for 120 pers Tauary 3 Pay cash for salaries during January, $42,000 Resell (0 Exercise 10-17 Part 7 7 Analyze the following for Grand Finale Fireworks e-1. Calculate the return on equity for the month of January Return on City Rabe Chose Nunerale Chose Denumator Peturn on Equity Robe more or less profitable than other a-2. If the average return on equity for the industry t companies in the same industry? O More profitable Less profitable b. How many shares of common stock are outstanding as of January 31, 2021 e-1. Calculate eemings per share for the month of January @ To calculate average shares of common stock outstanding take the beginning shares outstanding plus the ending shares outstanding and divide the total by 23 Exnings For Shar Choose Numerator Choose Erengs Fur Shan e-2. f earnings per share was $350 last year e, an average of $0.30 per mon eemings per share for January 2021 better or orse than last year's average? O Better O Worse