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Requirments:

1) Do GENERAL JOURNAL

2) Do GENERAK LEDGER

3) Do TRIAL BALANCE

4) Do INCOME STATEMENT

5) Do BALANCE SHEET

6)Do ANALYSIS

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On January 1. 2024, the general ledger of Big Blast Fireworks includes the following account balances: The $41,000 beginning balance of inventory consists of 410 units, each costing $100. During January 2024, Big Blast Fireworks had the following inventory transactions: January 3 Furchase 2,000 units for $218,000 on sceount (\$109 each). January 8 Purchase 2,100 unite for $239,400 on account ($114 each). Januery 12 purchase 2,200 units for $261,800 on account (\$119 each). January 15 Return 155 of the units purchased on January 12 because of defects. Janvary 19sel16,400 units on account for $960,000 The coat of the units nold is deterained uaing a Frro parpetanl inventory nystem. January 22 meceive $950,000 from custoners on accounts receivable. January 24 Pay $680,000 to inventory suppliers on accounts payable. January 27 write off accounts receivable as uncollectible, $2,000. January 31 pay eash for salaries during January, $125,000. The following information is available on January 31,2024. a. At the end of January, the company estimates that the remaining units of inventory purchased on January 12 are expected to sell in February for only $100 each. [Hint: Determine the number of units remaining from January 12 after subtracting the units returned on January 15 and the units assumed sold (FIFO) on January 19.] b. The company records an adjusting entry for $3,785, for estimated future uncollectible accounts. c. The company accrues interest on notes payable for January. Interest is expected to be pald each December 31. d. The company accrues income taxes at the end of January of $13,400. 1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as itemch. 1 to 10 ) assuming a FIFO perpetual inventory system. Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transactions on the account balances. 2. Record adjusting entries on January 31, In the 'General Journal' tab 'these arce shown as tab. 3. Review the adjusted 'Trial Balance' as of January 31, 2024, in the 'Thal Balance' tab. . . January 19 sel 6,400 units on account for 5960,000 The cost of the anits sold in deterained asisg s riro perpetal inventory aysten. January 22 Receive $950,000 from euatomern on accounta receivable. January 24 pay $680,000 to inventory. nupplier: on necount. payable. January 27. Write off accounts receivable as uncollectible, 52,000 . January 31 pay cash for salaries during January, $125,000. The following information is avallable on January 31, 2024. a. At the end of January, the company estimates that the remaining units of inventory purchased on January 12 are expected to sell in February for only $100 each. (Hint: Determine the number of units remaining from January 12 after subtracting the units retumed on January 15 and the units assumed sold (FIFO) on January 19.] b. The company records an adjusting entry for $3.785. for estimated future uncollectble accounts c. The company accrues interest on notes payable for January. Interest is expected to be paid each December 31. d. The company accrues income taxes at the end of January of $13,400. Each joumal entry is posted automatically to the general ledger. The unadjusted, adjusted, or post-dosing balances will appear for each account, based on your selection. January 15 Return 155 of the units purchased on January 12 because of detects. January 19 sel1 6,400 units on account for $960,000 The cont of the unite sold in deternined using a rifo perpetal inventory nystem. January 22 Receive $950,000 from customers on accounts receivable. January 24 Pay $680,000 to inventory suppliers on accounts payable. January 27 Write off accounte recelvable an uncollectible, $2,000. January 31 Pay caeh for nalaries during January, $125,000. The following information is avallable on January 31, 2024. a. At the end of January, the company estimates that the remaining units of inventory purchased on January 12 are expected to sell in February for only $100 each. (Hint. Determine the number of units remaining from January 12 after subtracting the units returned on January 15 and the units assumed sold (FIFO) on January 19.] b. The company records an adjusting entry for $3,785. for estimated future uncollectible accounts. c. The company accrues interest on notes payable for January. Interest is expected to be paid each December 31. d. The company accrues income taxes at the end of January of $13,400. 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. January 3. Purchase 2,000 unita for $218,000 on account (\$109 each). January 8 Purchane 2,100 units for $239,400 on account ($114 each). January 12 Purchase 2,200 units for $261,800 on account ($119 each). January 15 Return 155 of the units purchased on January 12 because of defects. January 19 Sel1 6,400 units on account for $960,000 The cost of the unita sold in determined using a rifo perpetual inventory system. January 22 Receive $950,000 from cuatomera on accounta receivable. January 24 Pay $680,000 to inventory suppliers on accounts payable. January 27 Write off accounts receivable as uncollectible, $2,000. January 31 Pay cash for salaries during January, $125,000. The following information is avallable on January 31,2024. a. At the end of January, the company estimates that the remaining units of inventory purchased on January 12 are expected to sell in February for only $100 each. [ Hint: Determine the number of units remaining from January 12 after subtracting the units returned on January 15 and the units assumed sold (FIFO) on January 19.] b. The company records an adjusting entry for $3.785. for estimated future uncollectible accounts. c. The company accrues interest on notes payable for January. Interest is expected to be paid each December 31. d. The company accrues income taxes at the end of January of $13,400. 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. January 19 sell 6,400 units on account for $960,000 The cont of the units nold is deternined using a FIro perpetual inventory eyeten. January 22 receive $950,000 from ountomers on sccounth receivable. January 24 Pay $680,000 to inventory nuppliers on accounts payable. January 27 write off accounts recelvable as uncollectible, $2,000. January 31 Pay cash for salaries during January, 5125,000 . The following information is available on January 31, 2024. a. At the end of January, the company estimates that the remaining units of inventory purchased on January 12 are expected to sell February for only $100 each. [Hint: Determine the number of units remaining from January 12 after subtracting the units returned o January 15 and the units assumed sold (FIFO) on January 19.] b. The company records an adjusting entry for $3,785. for estimated future uncollectible accounts. c. The company accrues interest on notes payable for January. Interest is expected to be paid each December 31. d. The company accrues income taxes at the end of January of $13,400. Prepare a classified balance sheet as of January 31, 2024. 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. the following inventory transactions: January 3 purchane 2,000 units for $218,000 on account (\$109 each). January \& Parchane 2,100 onits for $239,400 on account (\$114 each). January 12 Parchape 2,200 units for $261,300 on account (\$119 each). January 15 return 155 of the units purchaned on January 12 because of defecta. Janvary 19 se11 6,400 units on account for $960,000 the cost of the units sold is determined uning a riro perpetual inventory aystem. January 22 recelve $950,000 erom cuatoners on accounta receivable. Janvary 24 pay $680,000 to inventory nuppliere on accounte payable. January 27 Write off accounte receivable an uncollectible, \$2,000. January 31 ray canh tor salaries doring January, $125,000. The following information is avaliable on January 31, 2024. B. At the end of January, the company estimates that the remaining units of inventory purchased on January 12 are expected to sell in February for only $100 each. [Hint: Determine the number of units remaining from January 12 after subtracting the units returned on January 15 and the units assumed sold (FFFO) on January 19.] b. The company records an adjusting entry for $3,785. for estimated future uncollectible accounts. c. The company accrues interest on notes payable for January. Interest is expected to be paid each December 31. d. The company accrues income taxes at the end of January of $13,400

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