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dit of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash $6,400 Accounts
dit of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash $6,400 Accounts payable $9,600 Accounts receivable 32,000 Unearned revenue 3,840 Supplies 1,500 Long-term note payable 48,500 Equipment 9,500 Common stock 1,600 Land 7,400 Additional paid-in capital 7,000 Building 25,300 Retained earnings 11,560 a. Rebuilt and delivered five planos in January to customers who paid $19,000 in cash. b. Received a $600 deposit from a customer who wanted her piano rebuilt. c. Rented a part of the building to a bicycle repair shop; received $850 for rent in January. d. Received $7,200 from customers as payment on their accounts. e. Received an electric and gas utility bill for $400 to be paid in February f. Ordered $960 in supplies. g. Paid $2,300 on account in January h. Received from the home of Stacey Eddy, the major shareholder, a $920 tool (equipment) to use in the business in exchange for 100 shares of $1 par value stock. L Paid $16,500 in wages to employees who worked in January. j. Declared and paid a $2,200 dividend (reduce Retained Earnings and Cash). k. Received and paid cash for the supplies in (f) 1. Paid $320 in interest expense on the long-term note payable Required: 1 and 2. Enter the following transactions for January of the second year into the T-accounts, using the letter of each transaction as the reference 3. Using the data from the T-accounts, amounts for the following at the end of January of the second year, were: 5 Book Print erences Enter the following transactions for January of the second year into the T-accounts, using the letter of each transaction as the reference: Beginning Balance Ending Balance Beginning Balance Ending Balance 0 Supplies Equipment Debit Credit Debit Credit Beginning Balance Beginning Balance Ending Balance Debit Land Credit Ending Balance Building Debit Credit < Prev 5 of 8 Next > Debit Beginning Balance Ending Balance Accounts Payable Uneamed Revenue Credit Debit Credit Beginning Balance 0 Ending Balance Long-term Note Payable: Common Stock Debit Credit Debit Credit Beginning Balance Beginning Balance Ending Balance Additional Paid-in Capital Debit Beginning Balance 0 Ending Balance 0 Retained Earnings Credit Debit Credit Beginning Balance + Ending Balance Ending Balance Rebuilding Fees Revenue Rent Revenue < Prev 5 of 8 Next > Rebuilding Fees Revenue- Debit Beginning Balance Ending Balance Rent Revenue Credit Debit Credit Beginning Balance 0 Ending Balance 0 Wages Expense Utilities Expense Debit Credit Debit Credit Beginning Balance Beginning Balance Ending Balance Interest Expense Debit Credit Beginning Balance Ending Balance 3 Ending Balance 0 Req 3 > 1. Paid $320 in interest expense on the long-term note payable. Required: 1 and 2. Enter the following transactions for January of the second year into the T-accounts, using the letter of each transaction as ta reference: 3. Using the data from the T-accounts, amounts for the following at the end of January of the second year, were: Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Using the data from the T-accounts, amounts for the following at the end of January of the second year, were: Revenues Assets Expenses Liabilities Net income Stockholder's equity
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