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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,
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 $8,100 Accounts Payable: $ 11,350 Accounts Receivable 38,000 Deferred Revenue (deposits) 5,000 Supplies Equipment Land 2,800 Notes Payable (long-term) 13,000 Common Stock 7,300 Retained Earnings 49,500 16,500 9,150 Buildings 22,300 Following are the January transactions: a. Received a $695 deposit from a customer who wanted her piano rebuilt in February. b. Rented a part of the building to a bicycle repair shop; $325 rent received for January. c. Delivered five rebuilt pianos to customers who paid $15,600 in cash. d. Delivered two rebuilt pianos to customers for $8,000 charged on account. e. Received $5,400 from customers as payment on their accounts. f. Received an electric and gas utility bill for $670 for January services to be paid in February. g. Ordered $1,185 in supplies. h. Paid $3,000 on account in January. i. Paid $15,500 in wages to employees in January for work done this month. j. Received and paid cash for the supplies in (g). 4. Prepare an unadjusted trial balance at January 31. Account Name RICKY'S PIANO REBUILDING COMPANY Unadjusted Trial Balance Debit Credit
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