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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, at
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 Accounts Receivable Supplies Equipment Land Buildings $ 8,700 Accounts Payable 35,750 Deferred Revenue (deposits) 2,650 Notes Payable (long-term) 8,400 Common Stock 6,250 Retained Earnings 25,900 $ 9,300 4,250 46,000 8,500 19,600 Following are the January transactions: a. Received a $975 deposit from a customer who wanted her piano rebuilt in February. b. Rented a part of the building to a bicycle repair shop; $475 rent received for January. c. Delivered five rebuilt pianos to customers who paid $20,300 in cash. d. Delivered two rebuilt pianos to customers for $10,200 charged on account. e. Received $7,350 from customers as payment on their accounts. f. Received an electric and gas utility bill for $580 for January services to be paid in February. g. Ordered $1,225 in supplies. h. Paid $1,850 on account in January. i. Paid $12,100 in wages to employees in January for work done this month. j. Received and paid cash for the supplies in (g). Post the journal entries to the T-accounts. Show the beginning and unadjusted ending balances in the T-accounts
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