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9 Part 3 of 4 0.62 Required information E3-13 (Algo) Recording and Posting Accrual Basis Journal Entries, and Preparing an Unadjusted Trial Balance and Preliminary
9 Part 3 of 4 0.62 Required information E3-13 (Algo) Recording and Posting Accrual Basis Journal Entries, and Preparing an Unadjusted Trial Balance and Preliminary Financial Statements [LO 3-2, 3-3, LO 3-4] [The following information applies to the questions displayed below.] Ricky's Plano 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: points Cash Accounts Receivable: Supplies Equipment Land eBook Buildings Hint Print $7,200 Accounts Payable $ 8,650 49,750 Deferred Revenue (deposits) 4,800 1,800 Notes Payable (long-term) 9,900 Common Stock 63,000 16,000 6.600 Retained Earnings 24,900 7,700 Following are the January transactions: a. Received a $660 deposit from a customer who wanted her piano rebuilt in February. b. Rented a part of the building to a bicycle repair shop: $480 rent received for January. c. Delivered five rebuilt pianos to customers who paid $13,850 in cash. d. Delivered two rebuilt pianos to customers for $7,200 charged on account. e. Received $5,800 from customers as payment on their accounts. f Received an electric and gas utility bill for $390 for January services to be paid in February. g. Ordered $1,285 in supplies. h. Paid $2,400 on account in January. 1. Paid $13,100 in wages to employees in January for work done this month. J. Received and paid cash for the supplies in (g) ok E3-13 (Algo) Part 4 4. Prepare an unadjusted trial balance at January 31. RICKY'S PIANO REBUILDING COMPANY Unadjusted Trial Balance At January 31 nt Account Name rint Cash Deferred Revenue Debit Credit Total $ 0 $ 0 4 E3-13 (Algo) Part 5 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. If there are no dividends, include a line that reports Dividends of zero. 5-c. Prepare a classified balance sheet at January 31. Complete this question by entering your answers in the tabs below. ok Req SA Req 58 Req SC ht int Prepare an income statement for the month ended and at January 31. RICKY'S PIANO REBUILDING COMPANY Income Statement 0 Reg SA Req 5B >
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