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Post the journal entries to the T-accounts. Show the unadjusted beginning and ending balances in the T-accounts Ricky's Piano Rebuilding Company has been operating for
Post the journal entries to the T-accounts. Show the unadjusted beginning and ending balances in the T-accounts
Ricky's Piano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Land Building $ 7,800 Accounts Payable 38,750 Deferred Revenue (deposits) 1,450 Notes Payable (long-term) 9,100 Common Stock 9,550 Retained Earnings 28,600 $ 10,900 5,800 57,750 15,500 5,300 Following are the January transactions: a. Received a $755 deposit from a customer who wanted her piano rebuilt in February. b. Rented a part of the building to a bicycle repair shop; $340 rent received for January. c. Delivered five rebuilt pianos to customers who paid $20.900 in cash. d. Delivered two rebuilt pianos to customers for $10,400 charged on account. e. Received $8,400 from customers as payment on their accounts. f. Received an electric and gas utility bill for $835 for January services to be paid in February g. Ordered $1,050 in supplies. h. Paid $2,000 on account in January i. Paid $15,100 in wages to employees in January for work done this month. j. Received and paid cash for the supplies in (9). Post the journal entries to the T-accounts. Show the unadjusted beginning and ending balances in the T-accounts. Cash Account Receivable Beg. Bal. Beg. Bal. End. Bal. 01 End. Bal. Supplies Equipment Beg. Bal Beg. Bal. End. Bal. End. Bal. Land Building Beg. Bal. Beg. Bal. End. Bal. End. Bal. Accounts Payable Deferred Revenue Accounts Payable Deferred Revenue Beg. Bal. Beg. Bal. End. Bal. End. Bal. Notes Payable Common Stock Beg. Bal. Beg. Bal. End. Bal. End. Bal. Retained Earnings Service Revenue Beg. Bal. Beg. Bal. End. Bal. End. Bal. Rent Revenue Salaries and Wages Expense Beg. Bal. Beg. BalStep by Step Solution
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