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Can someone tell me what I am missing in these T-accounts? My answer says incomplete but Im not sure what is missing. work- Ch 3
Can someone tell me what I am missing in these T-accounts? My answer says incomplete but Im not sure what is missing.
work- Ch 3 0 Help Save & Exit S Check my w 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: Cash Accounts Receivable Supplies Equipment Land Building $ 6,000 Accounts Payable 25,000 Deferred Revenue (deposits) 1,200 Notes Payable (long-term) 8,Common Stock 6,000 Retained Earnings 22,000 $ 8,000 3,200 40,000 8,888 9,000 Following are the January transactions: a. Received a $500 deposit from a customer who wanted her piano 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. 1. 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. j. Received and paid cash for the supplies in (g). nework - Ch 30 Help Save & Required information Beg. Bal. 0 Beg. Bal. 0 2 of 4 Cash 6,000 500 300 14,500 6,000 Account Receivable 25,000 7,000 6,000 (e) (a) 10,0000 800 ) (b) (C) 1,700 (h) End. Bal. End. Bal. 14,800 int 26,000 Supplies 1,200 800 Equipment 8,000 Beg. Bal 0 Beg. Bal. 10) End. Bal. 2,000 End. Bal. 8,000 Land 6,000 Building 22,000 Beg. Bal. Beg. Bal. End. Bal. 6,000 End. Bal. 22,000 vork - Ch 3 1 Chec Required information End. Bali 6,000 End. Bal 22,000 Accounts Payable 0 8 000 1,700 Beg. Bal. (h) Beg. Bal. Deferred Revenue 3,200 500 (a) End. Bal. 6,300 End. Bal. 3.700 Notes Payable Of 40,000 Common Stock o 8,000 Beg. Bal. Beg. Bal. End. Bal. 40,000 End. Bal. 8,000 Retained Earnings 0 9 .000 Beg. Bal. Beg. Bal. Service Revenue 00 14,500 (c) 7 ,000 (d) End. Bal. 9,000 End. Bal. 21,500 Required information Retained Earnings 9,000 Beg, Bal. Beg. Bal. Service Revenue opo 14,500 (c) 7,000 (d) End. Bal. 9,000 End. Bal. 21,500 Rent Revenue Salaries and Wages Expense Beg. Bal. Beg. Bal. 10,000 End. Bal. 30 End. Bal. 10,000 Utilites Expense Beg. Bal. End. Bal. Step by Step Solution
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