Can I please get help with the Analysis!! On...

80.2K

Verified Solution

Question

Accounting

Can I please get help with the Analysis!!
image
image
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 2,060 shares of $1 par value common stock for $40,000. January 9 Provide services to customers on account, $19,500. January 10 Purchase additional supplies on account, $6,700. January 12 Purchase 1,200 shares of treasury stock for $21 per share. January 15 Pay cash on accounts payable, $18,300. January 21 Provide services to customers for cash, $50,900. January 22 Receive cash on accounts receivable, $18,400. January 29 Declare a cash dividend of $0.30 per share to atl shares outstanding on January 29. The dividend is payable on February 15. (Hint: Grand Finale Fireworks had 18,000 shares outstanding on January 1, 2024, and dividends are not paid on treasury stock.) January 30 Resetl 600 shares of treasury stock for $23 per share. January 31 Pay cash for sataries during January, $43,800. The following information is available on January 31,2024. a. Unpaid utilities for the month of January are $8,000. b. Supplies at the end of January total $6,900. 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 $11,800. d. Accrued income taxes at the end of January are $2,900. Using the information from the requirements above, complete the 'Analysis' tab. (Enter your return on equity value to one decin and earnings per share value to 2 decimal places.)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students