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Required information (The following information applies to the questions displayed below.) Stacey's Plano Rebuilding Company has been operating for one year. At the start of

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Required information (The following information applies to the questions displayed below.) Stacey's Plano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts receivable Supplies Equipment Land Building 6,500 30,300 1,500 9,800 7,900 26,500 Accounts payable Unearned revenue Long-term note payable Common stock Additional paid-in capital Retained earnings $ 9,000 3,340 48,000 1,540 6,160 14,460 a. Rebuilt and delivered five pianos in January to customers who paid $18,500 in cash. b. Received a $540 deposit from a customer who wanted her piano rebuilt. c. Rented a part of the building to a bicycle repair shop; received $820 for rent in January. d. Received $8,100 from customers as payment on their accounts. e. Received an electric and gas utility bill for $440 to be paid in February f. Ordered $930 in supplies. g. Paid $2,040 on account in January. h. Received from the home of Stacey Eddy, the major shareholder, a $920 tool (equipment) to use in the business in exchange for 150 shares of $1 par value stock. i. Paid $14,700 in wages to employees who worked in January j. Declared and paid a $2,000 dividend (reduce Retained Earnings and Cash). k. Received and paid cash for the supplies in (r). Required: 1 & 2. Enter the following transactions for January of the second year into the T-accounts, using the letter of transaction as the reference. 2 Cash Accounts Receivable Bog. Bal Beg. Bal. 36 End. Bal. 0 End. Bal. 0 ces Supplies Equipment Beg. Bal. Beg. Bal. End. Bal. End. Bal. Land Building Beg. Bal Beg. Bal. End. Bal. End. Bal. Required information Accounts Payable Unearned Revenue Beg. Bal Beg. Bal. End. Bal. 0 End. Bal. 5:19 Long-term Note Payable Common Stock Beg. Bal. Beg. Bal. k End. Bal. 0 End. Bal nces Additional Pald-in Capital Retained Earnings Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. Rebuilding Fees Revenue + Rent Revenue Bog. Bal Bog. Bal. End. Ral 0 End Ral 0

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