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please include both names and values in the statement Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second
please include both names and values in the statement
Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: $ Cash Accounts receivable Supplies Equiprent Land Building $ 7.100 30.400 1.530 9.900 7. 400 27.200 Accounts payable Unearned revenue Long-term note payable Common stock Additional pad-in capital Retained earnings 9. 100 3.840 47.900 186 744 21.700 a. Rebuilt and delivered five planos in January to customers who paid $18.600 in cash. b. Received a $530 deposit from a customer who wanted her piano rebuilt. c. Rented a part of the building to a bicycle repair shop: received $820 for rent in January d. Received $8.000 from customers as payment on their accounts. e. Received an electric and gas utility bill for $450 to be paid in February f. Ordered $880 in supplies, g. Paid $1,440 on account in January h. Received from the home of Stacey Eddy, the major shareholder, a $930 tool (equipment) to use in the business in exchange for 140 shares of $1 par value stock Paid $14700 in wages to employees who worked in January J.Declared and paid a $2.000 dividend (reduce Retained Earnings and Cash). k Received and paid cash for the supplies in (0) Required: Prepare an unadjusted classified income statement for January of the second year (ignore income taxes). Required: Prepare an unadjusted classified income statement for January of the second year (ignore income taxes). STACEY'S PIANO REBUILDING COMPANY Income Statement (unadjusted) For the Month Ended January 31 Operating revenues 0 Total operating revenues Operating expenses Total operating expenses Other item $ 0 Step by Step Solution
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