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?? Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances
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Stacey's Piano 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: a. Rebuilt and delivered five pianos in January to customers who paid $18.900 in cash. b. Received a $580 deposit from a customer who wanted her plano rebuilt. c. Rented a part of the building to a bicycle repair shop; recelved $870 for rent in January. d. Received $7,600 from customers as payment on their accounts. e. Received an electric and gas utility bill for $440 to be paid in February. f. Ordered $890 in supplies. 9. Paid $1,140 on account in January. h. Received from the home of Stacey Eddy, the major shareholder, a $900 tool (equipment) to use in the business in exchange for 130 shares of $1 par value stock. 1. Paid $14,600 in wages to employees who worked in January. 1. Declared and paid a $2,200 dividend (reduce Retained Earnings and Cash). k. Received and paid cash for the supplies in (i) 1. Paid $300 in interest expense on the long-term note payable. Required: 1 and 2. Enter the following transactions for January of the second year into the T-accounts, using the letter of each transaction as the reference: 3. Using the data from the T-accounts, amounts for the following at the end of January of the second year, were: Complete this question by entering your answers in the tabs below. Enter the following transactions for January of the second year into the T-accounts, using the letter of each transaction as the referen Enter the following transactions for January of the second year into the T-accounts, using the letter of each transaction as the refere Check my work Required: 1 and 2. Enter the following transactions for January of the second year into the T-accounts, using the letter of each transactio as the reference: 3. Using the data from the T-accounts, amounts for the following at the end of January of the second year, were: Complete this question by entering your answers in the tabs below. Using the data from the T-accounts, amounts for the following at the end of January of the second year, were Step by Step Solution
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