During January 2021, 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, $16,600. January 10 Purchase additional supplies on account, $5,900. January 12 Purchase 1,200 shares of treasury stock for $24 per share. January 15 Pay cash on accounts payable, $17,500. January 21 Provide services to customers for cash, $50,100. January 22 Receive cash on accounts receivable, $17,600. January 29 Declare a cash dividend of $0.20 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, 2021, and dividends are not paid on treasury stock.) January 30 Resell 600 shares of treasury stock for $26 per share. January 31 Pay cash for salaries during January, $43,000. The following information is available on January 31, 2021. Unpaid utilities for the month of January are $7,200. Supplies at the end of January total $6,100. 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 $11,000. Accrued income taxes at the end of January are $2,100.
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