Chapter $3$ C$+$ HW

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income statement accounts had zero balances and its balance sheet account balances were as follows:

Following are the January transactions:

a$.$ Received a $$975$ deposit from a customer who wanted her piano rebuilt in February.

b$.$ Rented a part of the building to a bicycle repair shop; $$475$ rent received for January.

c$.$ Delivered five rebuilt pianos to customers who paid $$20,300$ in cash.

d$.$ Delivered two rebuilt pianos to customers for $$10,200$ charged on account.

e$.$ Received $$7,350$ from customers as payment on their accounts.

f$.$ Received an electric and gas utility bill for $$580$ for January services to be paid in February.

g$.$ Ordered $$1,225$ in supplies.

h$.$ Paid $$1,850$ on account in January.

i$.$ Paid $$12,100$ in wages to employees in January for work done this month.

j$.$ Received and paid cash for the supplies in $(g).$

$5-$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 $31.$

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