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Required information E3-13 Recording and Posting Accrual Basis Journal Entries, and Preparing an Unadjusted Trial Balance and Preliminary Financial Statements [LO 3-2, 3-3, LO 3-4)
Required information E3-13 Recording and Posting Accrual Basis Journal Entries, and Preparing an Unadjusted Trial Balance and Preliminary Financial Statements [LO 3-2, 3-3, LO 3-4) [The following information applies to the questions displayed below.) 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 $ 6,200 Accounts Payable 33,250 Deferred Revenue (deposits) 1,700 Notes Payable (long-term) 12,200 Coron Stock 8.500 Retained Earnings 24,100 $10,400 4,000 60,750 7,000 3,800 Following are the January transactions: a. Received a $715 deposit from a customer who wanted her plano rebuilt in February b. Rented a part of the building to a bicycle repair shop: $445 rent received for January c. Delivered five rebuilt pianos to customers who paid $12,800 in cash. d. Delivered two rebuilt pianos to customers for $7,300 charged on account. e Received $5,200 from customers as payment on their accounts. f. Received an electric and gas utility bill for $365 for January services to be paid in February g. Ordered $1.545 in supplies. h. Paid $2,100 on account in January L. Paid $11,200 in wages to employees in January for work done this month. J. Received and paid cash for the supplies in (9) Sived 5 Required information 3. Post the journal entries to the T-accounts. Show the unadjusted beginning and ending balances in the T-accounts. t 2 of 2 Cash Account Receivable Beg. Bal. Beg. Bal ats eBook Hint Print End. Bal. 0 End. Bal. 0 ferences Supplies Equipment Beg Bal Beg. Bal. 0 End. Bal. 0 End. Bal. Land Building Beg. Bal. Beg Bal. 0 End. Bal 0 End. Bal. Deferred Revenue Accounts Payable CO 5 Draw HE Next Required information Accounts Payable Deferred Revenue art 2 of 2 Beg. Bal. Beg Bal End. Bal. 0 End. Bal. 0 pints Notes Payable Common Stock eBook Beg. Bal. Beg. Bat. Hint End. Bal. 0 End. Bal. 0 Print References Retained Earnings Service Revenue Beg. Bal. Beg. Bal. 0 End. Bal. 0 End. Bal. Rent Revenue Salaries and Wages Expense Beg. Bal. Beg. Bal. 0 0 End. Bal. End. Bal. COR 5 BE
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