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 Building $ 6,000 Accounts Payable 25,000 Deferred Revenue (deposits) 1,200 Notes Payable 8,000 Contributed Capital 6,000 Retained Earnings 22,000 8,000 3,200 40,000 8,000 9,000 Required: 2. Prepare journal entries for the following January transactions, using the letter of each transaction as a reference: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) a. Received a $500 deposit from a customer who wanted her piano rebuilt in February b. Rented a part of the building to a bicycle repair shop: $300 rent received for January c. Delivered five rebuilt pianos to customers who paid $14,500 in cash. d. Delivered two rebuilt pianos to customers for $7,000 charged on account. e. Received $6,000 from customers as payment on their accounts f. Received a utility bill for $350 for January services to be paid in February g. Ordered $800 in supplies. h. Paid $1700 to suppliers on account in January 1. Paid $10,000 in wages to employees in January for work done this month. J. Received and paid cash for the supplies in (g). Help 1. & 3. Post the journal entries to the T-accounts which are listed below. Show the unadjusted ending balances in the T-accounts. Cash Accounts Receivable Beg. bal (a) Beg, bal. End, bal. End, bal. Supplies Equipment Beg, bal Beg, bal End, bal End, bal Land Building Beg bal Bog, bal End, bal End, bal Accounts Payable Deferred Revenue Bog, bal Beg bal 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 Building $ 6,000 Accounts Payable 25,000 Deferred Revenue (deposits) 1,200 Notes Payable 8,000 Contributed Capital 6,000 Retained Earnings 22,000 $ 8,000 3,200 40,000 8,000 9,000 Required: 2. Prepare journal entries for the following January transactions, using the letter of each transaction as a reference: If no entry's required for a transaction/event, select "No journal entry required" in the first account field) a. Received a $500 deposit from a customer who wanted her plano rebuilt in February b. Rented a part of the building to a bicycle repair shop: $300 rent received for January c. Delivered five rebuilt pianos to customers who paid $14,500 in cash d. Delivered two rebuilt pianos to customers for $7,000 charged on account e. Received $6,000 from customers as payment on their accounts Received a utility bill for $350 for January services to be paid in February 9. Ordered $800 in supplies. h. Paid $1,700 to suppliers on account in January I Paid $10,000 in wages to employees in January for work done this month. J. Received and paid cash for the supplies in (al. No Transaction General Journal 1 a. Debit Credit Cash Deferred revenue 500 500 2 b. Cash Rent revenue 300 300 3 c. Cash Service revenue 14,500 14,500 4 d. Accounts receivable Service revenue 7,000 7,000 5 e. Cash Accounts receivable 6,000 6.000 6 . Udities expense Accounts payable 350 350 7 No journal entry required . 8 h Accounts payable Cash 1,700 1,700 Wages expenso Cash 10,000 10,000 10 800 Supplies Cash 800 10 Supplies Cash 800 800 1. & 3. Post the journal entries to the T-accounts which are listed below. Show the unadjusted ending balances in the T-accounts. Cash Accounts Receivable Beg, bal (a) (6) (e) 500 Beg. bal. (d) 7.000 300 6,000 1,700(h) 10,000 (0) 8000) End. bal. End, bal 7,000 5,700 Supplies Beg bal. Equipment Bog, bal End bal End, bal. Land Building Bog bal. Bog, bal End, bal End, bal Accounts Payable Deferred Revenue Beg bal Beg bal BE Alave Accounts Payable Beg. bal. Deferred Revenue Beg. bal. End, bal End, bal. + Notes Payablo Contributed Capital Beg. bal Beg. bal. End, bal. End, bal. Retained Earnings Piano Rebuilding Revenue Beg. bal Beg, bal. End, bal. End, bal Rent Revenue Wages Expense Beg ba Beg. bal. End, bal End, bal Utilities Expenso Bog, bal Saved Saved Utilities Expense Beg. bal. End. bal. Use the balances in the completed T-accounts to prepare an unadjusted trial balance at the RICKY'S PIANO REBUILDING COMPANY Unadjusted Trial Balance At January 31 Accounts Titles Debit Credit Cash Accounts receivable Supplies Equipment Land Building Accounts payable Deferred revenue Notes payable Contributed capital Retained earnings Piano rebuilding revenue Rent revenue Wages expense Prey 5 of 6 Next