Question

What would be under non-current assets and is my balance sheet correct in placements with correct amounts?

Credit Debit $ 44,700 48,500 9,500 84,000 Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common Stock, $1 par value Additional Paid-in Capital Retained Earnings Totals $ 11,000 16,600 20,000 100,000 39,100 $186,700 $186,700 During January 2021, the following transactions occur: January 2 Issue an additional 2,300 shares of $1 par value common stock for $46,000. January 9 Provide services to customers on account, $20,400. January 10 Purchase additional supplies on account, $6,900. January 12 Purchase 1,100 shares of treasury stock for $19 per share. January 15 Pay cash on accounts payable, $18,500. January 21 Provide services to customers for cash, $51,100. January 22 Receive cash on accounts receivable, $18,600. 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 20,000 shares outstanding on January 1, 2021, and dividends are not paid on treasury stock.) January 30 Resell 800 shares of treasury stock for $21 per share. January 31 Pay cash for salaries during January, $44,000. The following information is available on January 31, 2021. a. Unpaid utilities for the month of January are $8,200. b. Supplies at the end of January total $7,100. 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 $12,000. d. Accrued income taxes at the end of January are $3,100. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. View transaction list Journal entry worksheet

Answer 1

Amounts in $ Amounts in $ Balance sheet As at 31.1.2021 Assets Current Assets Cash Accounts Receivable Supplies Amounts in $ Amounts in $ Liabilities Current Liabilities 93800 Accounts Payable 50300 Dividend Payable 7100 151200 Income Tax Payable 13200 4240 3100 20540 Non Current Assets Equipment Accumulated Depreciatioi Total Assets Share holders Equity Common Stock $1 par value Additional Paid in Capital Additional Paid in Capital - Treasury Retained Earnings 71000 Treasury Shares 222200 Total Liabilities & Equity 22300 143700 1600 39760 -5700 84000 - 13000 201660 222200 Return on Equity = Net Income / Total Equity = 4900 / (20000 + 100000 + 39100 + 201660)/2 = 4900 / 180380 = 2.72% The Company is more profitable than other companies Number of shares outstanding = 20000 +2300-1100 + 800 = 22000 Earning per share = 4900 / (20000 + 22000 )/2 = 4900 / 21000 = $0.233 Grand Final Fireworks has better EPS this year