On January $1,2024,$ the general ledger of Grand Finale Fireworks includes the following account balances:

Required information

Exercise $10-20($Static$)$ Complete the accounting cycle using stockholders' equity transactions $($LO$10-2,10-4,10-5,10\mathrm{.}8)$

$[$The following information applies to the questions displayed below.$]$

On January $1,2024,$ the general ledger of Grand Finale Fireworks includes the following account balances:

During January $2024,$ the following transactions occur:

January $2$ Issue an additional $2,000$ shares of $\backslash (\backslash$$ $1\backslash )$ par value common stock for $\backslash (\backslash$$ $40,000\backslash ).$

January $9$ Provide services to customers on account, $\backslash$$$14,300.$

January $10$ Purchase additional supplies on account, $\backslash (\backslash$$ $4,900\backslash ).$

January $12$ Purchase $1,000$ shares of treasury stock for $\backslash (\backslash$$ $18\backslash )$ per share.

January $15$ Pay cash on accounts payable, $\backslash$$$16,500.$

January $21$ Provide services to customers for cash, $\backslash$$$49,100.$

January $22$ Receive cash on accounts receivable, $\backslash$$$16,600.$

January $29$ Declare a cash dividend of $\backslash (\backslash$$ $0\mathrm{.}30\backslash )$ per share to all shares outstanding on January $29.$ The dividend is payable on February $15.($Hint: Grand Finale Fireworks had $10,000$ shares outstanding on January $1,2024,$ and dividends are not paid on treasury stock.$)$

January $30$ Resell $600$ shares of treasury stock for $\backslash (\backslash$$ $20\backslash )$ per share.

January $31$ Pay cash for salaries during January, $\backslash$$$42,000.$

Exercise $10-20($Static$)$ Part $3$

a$.$ Unpaid utilities for the month of January are $\backslash$$$6,200.$

b$.$ Supplies at the end of January total $\backslash$$$5,100.$

c$.$ Depreciation on the equipment for the month of January is calculated using the straightline method. At the time the equipment was purchased, the company estimated a service life of three years and a residual value of $\backslash$$$10,000.$

d$.$ Accrued income taxes at the end of January are $\backslash$$$2,000.$

$3.$ Prepare an adjusted trial balance as of January $31,2024.$