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please see below? Stacey's Plano Rebullding Company has been operating for one year. At the start of the second year, its income statement accounts had
please see below?
Stacey's Plano Rebullding 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: a. Rebuilt and dellvered five pianos in January to customers who paid $18,600 in cash: b. Received a $560 deposit from a customer who wanted her piano rebuilt. c. Rented a part of the building to a bicycle repair shop; recelved $830 for rent in January. d. Received $7,700 from customers as payment on their accounts. e. Recelved an electric and gas utility bill for $430 to be paid in February. f. Ordered $940 in supplies. 9. Paid $2.140 on account in January. h. Recelved from the home of Stacey Eddy, the major shareholder, a $920 tool (equipment) to use in the business in exchange for 110 shares of $1 par value stock. 1. Paid $14,300 in wages to employees who worked in January. j. Declared and paid a $2,300 dividend (reduce Retained Earnings and Cash). k. Recelved and paid cash for the supplies in (1) 1. Paid $340 in interest expense on the long-term note payable. Required: Prepare an unadjusted classifled income statement for January of the second year (lgnore income taxes). Required: Prepare an unadjusted classified income statement for January of the second year (ignore income taxes) Step by Step Solution
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