3 Ricky's Piano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: 4.16 points $11,350 5,000 Cash Accounts Receivable Supplies Equipment Land Buildings $ 8,100 Accounts Payable 38,000 Deferred Revenue (deposits) Notes Payable 2,800 (long-term) 13,000 Common Stock 7,300 Retained Earnings 22,300 eBook 49,500 16,500 9,150 Hint Print Reference Following are the January transactions: a. Received a $695 deposit from a customer who wanted her piano rebuilt in February. b. Rented a part of the building to a bicycle repair shop: $325 rent received for January. c. Delivered five rebuilt pianos to customers who paid $15,600 in cash. d. Delivered two rebuilt pianos to customers for $8,000 charged on account e. Received $5,400 from customers as payment on their accounts. f. Received an electric and gas utility bill for $670 for January services to be paid in February. g. Ordered $1,185 in supplies. h. Paid $3,000 on account in January. 1. Paid $15,500 in wages to employees in January for work done this month. J. Received and paid cash for the supplies in (9). General General Trial Require... Income Statem.. Balance Journal Ledger Balance Statem... of Sheet Prepare the journal entries for transactions (a)-(e). (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 1 2 3 4 5 6 7 8 9 10 > Received a $695 deposit from a customer who wanted her piano rebuilt in February. Record the transaction. Note: Enter debits before credits. Date General Journal Debit Credit Jan 31 Record entry View general journal Clear entry General General Trial Income Statem... Balance Require... Journal Ledger Balance Statem... of Sheet Each journal entry is posted automatically to the general ledger. General Ledger Account Cash Accounts Receivable No. Debit Credit No. Debit Credit Date Jan 31 Balance 8,100 Date Jan 31 Balance 38,000 Land Supplies Debit Credit No. No. Debit Credit Date Jan 31 Balance 2,800 Date Jan 31 Balance 7,300 Buildings Debit Credit Equipment Debit Credit No. No. Date Jan 31 Balance 22,300 Date Jan 31 Balance 13,000 Deferred Revenue No. Accounts Payable Date Debit Credit Jan 31 No. Debit Credit Balance 11,350 Date Jan 31 Balance 5,000 Common Stock No. Notes Payable (long-term) Date Debit Credit Jan 31 No. Debit Credit Balance 49,500 Date Jan 31 Balance 16,500 No. Retained Earnings Debit Credit Jan 31 Date Balance 9,150 General General Trial Income Statem... Balance Require... Journal Ledger Balance Statem... of Sheet The ending balance values from the General Ledger tab flows through to the Trial Balance below. Credit $ RICKY'S PIANO REBUILDING COMPANY Trial Balance January 31, 2019 Account Title Cash Accounts Receivable Supplies Land Buildings Equipment Accounts Payable Deferred Revenue Notes Payable (long-term) Common Stock Retained Earnings Total Debit 8,100 38,000 2,800 7,300 22,300 13,000 11,350 5,000 49,500 16,500 9,150 91,500 $ 91,500 $ General General Trial Income Statem... Balance Require... Journal Ledger Balance Statem... of Sheet Choose the appropriate accounts to be reported on the income statement. However, you will need to calculate and enter the amount of the net income or loss for the period. RICKY'S PIANO REBUILDING COMPANY Income Statement For the Month Ended January 31 General General Trial Income Statem... Balance Require... Journal Ledger Balance Statem... of Sheet Prepare the statement of retained earnings for the month ended January 31, 2019. You will need to determine and enter the accounts and balances to prepare the Statement of Retained Earnings. Show less RICKY'S PIANO REBUILDING COMPANY Statement of Retained Earnings For the Month Ended January 31 Retained Earnings, January 1 Retained Earnings, January 31 General General Trial Income Statem... Balance Require... Journal Ledger Balance Statem... of Sheet Use the dropdowns to select the accounts properly included on the balance sheet. You will need to determine and enter the balance in the common stock and retained earnings account. Show less RICKY'S PIANO REBUILDING COMPANY Balance Sheet At January 31