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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 $ 6,400 Accounts Payable $ 10,750 Accounts Receivable 21,500 Deferred Revenue (deposits) 4,650 2:17 Supplies Equipment 2,850 Notes Payable (long-term) 17,200 Common Stock. 41,000 12,000 Land 9,300 Retained Earnings 13,250 Buildings 24,400 ok int Print ferences Following are the January transactions: a. Received a $565 deposit from a customer who wanted her piano rebuilt in February. b. Rented a part of the building to a bicycle repair shop; $410 rent received for January. c. Delivered five rebuilt planos to customers who paid $22,525 in cash. d. Delivered two rebuilt planos to customers for $10,800 charged on account. e. Received $8,600 from customers as payment on their accounts. f. Received an electric and gas utility bill for $495 for January services to be paid in February. g. Ordered $1,040 in supplies. h. Paid $3,600 on account in January. 1. Paid $13,400 in wages to employees in January for work done this month. J. Received and paid cash for the supplies in (g). winning and unadjusted ending balances in the T-accounts.
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