3 - Homework Saved Help Save & Exit Submit Check my work ! Required information E3-10 (Algo) Analyzing the Effects of Transactions in T-Accounts and Computing Cash Basis versus Accrual Basis Net Income LO3-3, 3-4 [The following information applies to the questions displayed below. Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: k $ $ Cash Accounts receivable Supplies Equipment Land Building 6,800 31,000 1,490 10,500 8,100 27,200 Accounts payable Unearned revenue Long-term note payable Common stock Additional paid-in capital Retained earnings 9,500 3,840 47,200 1,620 6,480 16,450 nces a. Rebuilt and delivered five pianos in January to customers who paid $18,800 in cash. b. Received a $530 deposit from a customer who wanted her piano rebuilt. c. Rented a part of the building to a bicycle repair shop; received $890 for rent in January. d. Received $8,200 from customers as payment on their accounts. e. Received an electric and gas utility bill for $500 to be paid in February. f. Ordered $880 in supplies. g. Paid $1,540 on account in January h. Received from the home of Stacey Eddy, the major shareholder, a $940 tool (equipment) to use in the business in exchange for 140 shares of $1 par value stock. i. Paid $14,800 in wages to employees who worked in January j. Declared and paid a $2,400 dividend (reduce Retained Earnings and Cash). k. Received and paid cash for the supplies in (0) MacBook Air Chapter 3 - Homework Savec Help Save & Exit Submit Check my work 4 Part 2 of 3 D. Received a $530 deposit from a customer wno wantea ner piano redulit. c. Rented a part of the building to a bicycle repair shop; received $890 for rent in January. d. Received $8,200 from customers as payment on their accounts. e. Received an electric and gas utility bill for $500 to be paid in February f. Ordered $880 in supplies. g. on account in January h. Received from the home of Stacey Eddy, the major shareholder, a $940 tool (equipment) to use in the business in exchange for 140 shares of $1 par value stock. i. Paid $14,800 in wages to employees who worked in January j. Declared and paid a $2,400 dividend (reduce Retained Earnings and Cash). k. Received and paid cash for the supplies in (f). 9. Paid $1,540 CO olnts eBook E3-10 Part 3 References 3. Using the data from the T-accounts, amounts for the following at the end of January of the second year, were: Revenues $ 19,690 Expenses $ 4,390 15,3001 S Net income Assets $ 87,510 + Stockholders' equity Liabilities w cation MacBook Air