Required information [The following information applies to the questions displayed below.] 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: Cash Accounts Receivable Supplies Equipment Land Building $ 6,000 Accounts Payable 25,000 Deferred Revenue (deposits) 1,200 Notes Payable (long-term) 8,000 Common Stock 6,000 Retained Earnings 22,000 $ 8,000 3,200 40,000 8,000 9,000 Following are the January transactions: a. Received a $500 deposit from a customer who wanted her plano rebuilt in February b. Rented a part of the building to a bicycle repair shop: $300 rent received for January c. Delivered five rebuilt pianos to customers who paid $14,500 in cash. d. Delivered two rebuilt pianos to customers for $7.000 charged on account. e. Received $6.000 from customers as payment on their accounts f. Received an electric and gas utility bill for $350 for January services to be paid in February g. Ordered $800 in supplies. h. Paid $1,700 on account in January 1. Paid $10.000 in wages to employees in January for work done this month. 1. Received and paid cash for the supplies in (9) 5-a. Prepare an income statement for the month ended and at January 31, art 4 of 7 5-a. Prepare an income statement for the month ended and at January 31. 5-b. Prepare a statement of retained earnings for the month ended and at January 31. 5-c. Prepare a classified balance sheet for the month ended and at January 31, Ints Answer is not complete. Complete this question by entering your answers in the tabs below. Req 5A Reg 5B Req 5C Prepare an income statement for the month ended and at January 31. RICKY'S PIANO REBUILDING COMPANY Income Statement For the Month Ended January 31 Revenues 0 Req 5B > 5-a. Prepare an income statement for the month ended and at January 31, 5-b. Prepare a statement of retained earnings for the month ended and at January 31. 5-c. Prepare a classified balance sheet for the month ended and at January 31. Answer is not complete. Complete this question by entering your answers in the tabs below. Reg 5A Reg 5B Reg 50 Prepare a statement of retained earnings for the month ended and at January 31. RICKY'S PIANO REBUILDING COMPANY Statement of Retained Earnings Retained Earnings, January 1 Retained Earnings, January 31 Reg SA Req 5B Reg 5C Prepare a classified balance sheet for the month ended and at January 31. RICKY'S PIANO REBUILDING COMPANY Balance Sheet 0 0 0 0 O 0
