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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 Supplies Equipment 38,000 Deferred Revenue (deposits) 2,800 Notes Payable (long-term) 13,000 Common Stock 5,000 49,500 16,500 Land 7,300 Retained Earnings 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). 5-a. Prepare an income statement for the month ended and at January 31. 5-b. Prepare a statement of retained earnings for the month ended and at January 31. If there are no dividends, include a line that reports Dividends of zero. 5-c. Prepare a classified balance sheet at January 31. Complete this question by entering your answers in the tabs below. Req 5A Req 5B Req 5C Prepare an income statement for the month ended and at January 31. RICKY'S PIANO REBUILDING COMPANY Income Statement Complete this question by entering your answers in the tabs below. Req 5A Req 5B Req 5C Prepare a statement of retained earnings for the month ended and at January 31. If there are no dividends, include a line that reports Dividends of zero. RICKY'S PIANO REBUILDING COMPANY Statement of Retained Earnings Retained Earnings, January 1 Retained Earnings, January 31 < Req 5A Req 5C > ired rmation Complete this question by entering your answers in the tabs below. Req 5A Req 5B Req 5C Prepare a classified balance sheet at January 31. RICKY'S PIANO REBUILDING COMPANY Balance Sheet
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