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please I need help urgently with this question. Question 1 Ricky's Piano Rebuilding Company has been operating for one year. On January 1, at the
please I need help urgently with this question.
Question 1 Ricky's Piano Rebuilding Company has been operating for one year. On January 1, at the start of its second vear, its income statement accounts had zero balances and its balance sheet account balances were as follows: Requirement 1: 30mks 2. Prepare journal 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 journal entry required" in the first account field.) a. Received a $670 deposit from a customer who wanted her piano rebuilt in February. b. Rented a part of the building to a bicycle repair shop; $385 rent received for January. c. Delivered five rebuilt pianos to customers who paid $17,900 in cash. d. Delivered two rebult pianos to customers for $8,700 charged on account. e. Received $7,700 from customers as payment on their accounts. f. Received a utility bill for $520 for January services to be paid in February. g. Ordered $1,140 in supplies. h. Paid $2,210 to suppliers on account in January. i. Paid $18,500 in wages to emplovees in January for work done this month. 1. Received and paid cash for the supplies in (g). Requirement 2: 20mks Post the joumal entries to the T-accounts which are listed below. Show the unadjusted ending balances in the T-accountsStep by Step Solution
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