Required information

Skip to question

[The following information applies to the questions displayed below.]

Rickys 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 $ 7,200 Accounts Payable $ 8,650

Accounts Receivable 49,750 Deferred Revenue (deposits) 4,800

Supplies 1,800 Notes Payable (long-term) 63,000

Equipment 9,900 Common Stock 16,000

Land 6,600 Retained Earnings 7,700

Buildings 24,900

Following are the January transactions:

Received a $660 deposit from a customer who wanted her piano rebuilt in February.

Rented a part of the building to a bicycle repair shop; $480 rent received for January.

Delivered five rebuilt pianos to customers who paid $13,850 in cash.

Delivered two rebuilt pianos to customers for $7,200 charged on account.

Received $5,800 from customers as payment on their accounts.

Received an electric and gas utility bill for $390 for January services to be paid in February.

Ordered $1,285 in supplies.

Paid $2,400 on account in January.

Paid $13,100 in wages to employees in January for work done this month.

Received and paid cash for the supplies in (g).

Required:

Prepare journal entries for the above January transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

0 Land Required information [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 $ 7,200 Accounts Payable $ 8,650 Accounts Receivable 49,750 Deferred Revenue (deposits) 4,800 Supplies 1,800 Notes Payable (long-term) 63,000 Equipment 9.900 Connon Stock 16,000 6,600 Retained Earnings 7,700 Buildings 24,900 Following are the January transactions: a. Received a $660 deposit from a customer who wanted her plano rebuilt in February b. Rented a part of the building to a bicycle repair shop: $480 rent received for January c. Delivered five rebuilt planos to customers who paid $13.850 in cash. d. Delivered two rebuilt planos to customers for $7.200 charged on account e. Received $5,800 from customers as payment on their accounts. 1. Received an electric and gas utility bill for $390 for January services to be paid in February g. Ordered $1.285 in supplies h. Paid $2,400 on account in January L. Paid $13,100 in wages to employees in January for work done this month J. Received and paid cash for the supplies in (9) Required: 2. Prepare journal entries for the above January transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 3 4 5 1 2 6 7 8 9 10 > Received a $660 deposit from a customer who wanted her plano rebuilt in February. Record the transaction Note: Enter detits before credits Transaction Goneral Journal Debit Credit Required information Journal entry worksheet 1 10 2 3 4 5 6 7 8 9 Received a $660 deposit from a customer who wanted her plano rebuilt in February. Record the transaction. Note: Enter debits before credits. Debit Credit Transaction General Journal a Record entry Clear entry View general Journal Journal entry worksheet Rented a part of the building to a bicycle repair shop; $480 rent received for January. Record the transaction. Note: Enter debits before credits. General Journal Debit Credit Transaction b Record entry Clear entry View general Journal Journal entry worksheet Delivered five rebuilt pianos to customers who paid $13,850 in cash. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit + Record entry Clear entry View general journal Journal entry worksheet Received an electric and gas utility bill for $390 for January services to be paid in February. Record the transaction. Note: Enter debits before credits. General Journal Debit Credit Transaction f Record entry Clear entry View general journal Journal entry worksheet Paid $13,100 in wages to employees in January for work done this month. Record the transaction. Note: Enter debits before credits. General Journal Debit Credit Transaction i Record entry Clear entry View general Journal Journal entry worksheet