Answer Happy

On January 1, 2018, the general ledger of Grand Finale Fireworks includes the following account balances: Accounts Debit Credit Cash $44,200 Accounts Receivable 47,500 Supplies 9,000 79,000 Equipment Accumulated Depreciation Accounts Payable Common Stock, $1 par value Additional Paid-in Capital Retained Earnings Totals During January 2018, the following transactions occur: January 2 Issue an additional 2,200 shares of $1 par value common stock for $44,000. January 9 Provide services to customers on account, $18,300. January Purchase additional supplies on account, $6,400. 10 January 12Repurchase 1,000 shares of treasury stock for $22 per share. January 15Pay cash on accounts payable, $18,000. January 21Provide services to customers for cash, $50,600. January 22 January 29 January 20 $ 10,500 16,100 15,000 95,000 43,100 I $179,700 $179,700 Receive cash on accounts receivable, $18,100. 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 15,000 shares outstanding on January 1, 2018 and dividends are not paid on treasury stock.) Reissue 900 shares of treasury stock for $24 per share.

During January 2018, the following transactions occur: January 2 Issue an additional 2,200 shares of $1 par value common stock for $44.000. January 9 Provide services to customers on account, $18,300. January Purchase additional supplies on account, $6,400. 10 January 12Repurchase 1,000 shares of treasury stock for $22 per share. January 15Pay cash on accounts payable, $18,000. January 21Provide services to customers for cash, $50.600. January Receive cash on accounts receivable, $18,100. 22 January 29 January 30 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 15,000 shares outstanding on January 1, 2018 and dividends are not paid on treasury stock.) Reissue 900 shares of treasury stock for $24 per share. January 31Pay cash for salaries during January, $43,500. The following information is available on January 31, 2018. a. Unpaid utilities for the month of January are $7,700. b. Supplies at the end of January total $6,600. c. Depreciation on the equipment for the month of January is calculated using the straight-line method. At the time the equipment was purchased, the company estimated a service life of three years and a residual value of $11,500. d. Accrued income taxes at the end of January are $2,600. General Journal General Ledger Income Statement If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Requirement Trial Balance Balance Sheet Analysis

On January 1, 2018, the general ledger of Grand Finale Fireworks includes the following account balances: Accounts Debit Credit Cash $44,200 Accounts Receivable 47,500 Supplies 9,000 79,000 Equipment Accumulated Depreciation Accounts Payable Common Stock, $1 par value Additional Paid-in Capital Retained Earnings Totals $ 10,500 16,100 15,000 95,000 43,100 $179,700 $179,700

During January 2018, the following transactions occur: January 2 Issue an additional 2,200 shares of $1 par value common stock for $44,000. January 9 Provide services to customers on account, $18,300. January Purchase additional supplies on account, $6,400. 10 January 12Repurchase 1,000 shares of treasury stock for $22 per share. January 15Pay cash on accounts payable, $18,000. January 21Provide services to customers for cash, $50,600. January 22 January 29 January 30 Receive cash on accounts receivable, $18,100. 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 15,000 shares outstanding on January 1, 2018 and dividends are not paid on treasury stock.). Reissue 900 shares of treasury stock for $24 per share. January 31Pay cash for salaries during January, $43,500. The following information is available on January 31, 2018. a. Unpaid utilities for the month of January are $7,700. b. Supplies at the end of January total $6,600. c. Depreciation on the equipment for the month of January is calculated using the straight-line method. At the time the equipment was purchased, the company estimated a service life of three years and a residual value of $11,500. d. Accrued income taxes at the end of January are $2,600.