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Below are the questions you should answer and upload in the Test 1 Drop box Beethoven's Piano Rebuilding Company has been operating for one year.
Below are the questions you should answer and upload in the Test 1 Drop box Beethoven'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: Requirement 1: 30mks Prepare joumal entries for the following January transactions, using the letter of each transaction as a reference: (If no entry is required for a transaction/event, write "No joumal entry required".) a) Recelved a $680 deposit from a customer who wanted her piano rebuilt in February. b) Rented a part of the building to a bicycle repair shop; $390 rent received for January. c) Dellvered five rebuilt pianos to customers who paid $18,100 in cash. d) Delivered two rebuilt pianos to customers for $8,800 charged on account. e) Received $7,800 from customers as payment on their accounts. f) Received a utility bill for $530 for January services to be paid in February. g) Ordered $1,160 [ 2 supplies. h) Paid \$2,240 to soppliers on account in January. i) Paid $19,000 in wages to employees in January for work done this month. j) Received and paid cash for the supplies in (g). Requirement 2: 25mks Post the joumal entries to the T-accounts and show the ending balances in the T-accounts. Requirement 3:25mks Use the balances in the completed T-accounts to prepare a trial balance at the end of January. Requirement 4: 20mks Prepare an income statement for the month ended January 31, 2023 Noteli
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