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on January 1, 2020, for the general ledger of the grand finale fireworks includes the following account balances

On January 1, 2024, the general ledger of Grand Finale Fireworks includes the following account balances: During January 2024, the following transactions occur: Jenuary 2 Issue an additional 2,20e shares of 31 par value comeon stock for $44,000. January 9 Provide servicos to customers on accoont, 314,800 . January 10 Purchase additional supplies on account, $5,160. January 12 Purchase 1, 1,00 shares of treasury stock fon $20 per share. Junuary 15 Pay cash on accounts payable, $16,700. January 21 Provide services to customers for cash, $49,300. Jenuary 22 Receive cash on accounts receivable, $16,800. January 29 Declare a cash dividend of 30.30 per share to all shares outstanding on January 29. The dividend is payable on rebruary 15. (Wint: Grand Finale Fireworks had 12,000 shares outstanding en January 1, 2024, and dividends are not paid on January 30 Resell 300 shares of treasury stock for $22 per share. January 31 pay cash for salarjes during January, $42,200. The fotowing information is available on January 31,2024. 4. Unpaid utilities for the month of January are $6,400. b. Stupplies at the end of January total $5,300. Depreciation on the eouloment for the month of Januarv is calculated usino the stralaht-line method. At the time the couloment was January 9 Provide services to customers on account, $14,806. January 10 Punchase additional-supplies on account, $5,160. January 12 Purchase 1,690 shares of treasury stock for 520 per share. January 15 Pay cash on accounts payable, $16,700. January 21 Provide services to customers for cash, $49,300. January 22 Recelve cash on accounts receivable, $16,899. January 29 Declare a cash dividend of 50.36 per share to all shares outstanding on January 29. The dividend is nayable on Fefruary. 15. (Hint: lirand Finale Fireworks had 12, 00e shares outstanding on Jaricary 1, 20e4, and dividerids are not paid on treasury stock.) January 30 Resell 700 shares of treasury stock for $22 per share. Janeary 31 Pay eash for salaries during January, $42,260. The following Information is available on Jamuary 31, 2024. 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 straight-line method. At the lime the equipment was purchased, the company estimated a service life of three years and a fesidual value of 510,200. d. Accrued income laxes at the end of January are $2,200. accosut field,) Journal entry worksheet 678.17 Record issuance of an additional 2,200 shares of $1 par value common stock for $44,000. Note: Enter debits before credits. Journal entry worksheet 45678 Record the services provided to customers on account, $14,800. Note: Enter debits before credits. Journal entry worksheet 4567 Record purchase of additional supplies on account, $5,100. Note: Enter debits before credits. Journal entry worksheet Record purchase of 1,000 shares of treasury stock for $20 per share. Note: Enter debits before credits. Journal entry worksheet 67 Record payment of cash on accounts payable, $16,700. Note: Enter debits before credits. Journal entry worksheet 7 8 Record the services provided to customers for cash, $49,300. Note: Enter debits before credits. Journal entry worksheet 1 456 Record the receipt of cash on accounts receivable, $16,800. Note: Enter debits before credits. Journal entry worksheet (1) 234567 Record the declaration of 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, 2024 and dividends are not paid on treasury stock.) Note: Enter debits before credis. Journal entry worksheet (1) ,45677 Record the resale of 700 shares of treasury stock for $22 per share. Note: Enter debits before credits. Journal entry worksheet (1) ,556789 Record the payment of cash for salaries during January, $42,200. Note: Enter debits before credits. Journal entry worksheet (1) 6 Unpaid utilities for the month of January are $6,400. Prepare the adjusting entry for utilities. Note: Enter debits before credits. Journal entry worksheet (1) ,7 17 Supplies at the end of January total $5,300. Prepare the adjusting entry for supplies. Note: Enter debits before credits. Journal entry worksheet (1) 1112 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 $10,200. Prepare the adjusting entry for depreciation. Journal entry worksheet (1) ,9 Accrued income taxes at the end of January are $2,200. Prepare the adjusting entry for income taxes. Note: Enter debits before credits. Journal entry worksheet (1) ,10111213 Record the entry to close the revenue accounts. Note: Enter debits before credits. Journal entry worksheet Journal entry worksheet (1) 10 12 13 Record the entry to close the dividends account. Note: Enter debits before credits. Using the information from the requirements above, complete the 'Analysis' tab. (Enter your return on equity value to one decimal and earnings per share value to 2 decimal places.) Analyze the following for Grand Finale Fireworket a) Caiculate the return on equity for the month of January If the average return on equity for the industry for January is 2.50%, is the company note or less proftable than other companies in the same industry? The rotum on equity is 5. the company mote or les 5 profitable than other companies? (b) How many shares of common slock are outstanding as of January 31, 20247 the number of common shares outstanding as of January 31,2024 is (c) Cakculate earnings per share for the month of January (Hint. To calculate average shares of common stock outstanding take the beginning shares outstanding plus the ending shares outstanding and divide the fotal by 2) If earnings per share was $3.60 lust year (ie, an average of $0.30 per month), is earnings per share for January 2024 better or worse than last year's average

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