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[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
[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 $ 6,950 Accounts Payable $ 9,350 Accounts Receivable. 24,000 Deferred Revenue (deposits) 4,850 Supplies Equipment 2,250 Notes Payable (long-term) 10,200 Common Stock 47,750 9,500 Land 7,550 Retained Earnings 11,300 Building 31,800 Following are the January transactions: a. Received a $550 deposit from a customer who wanted her piano rebuilt in February. b. Rented a part of the building to a bicycle repair shop: $400 rent received for January. c. Delivered five rebuilt pianos to customers who paid $16.975 in cash. d. Delivered two rebuilt pianos to customers for $8,900 charged on account. e. Received $6,850 from customers as payment on their accounts. f. Received an electric and gas utility bill for $375 for January services to be paid in February. g. Ordered $1,170 in supplies. h. Paid $1,650 on account in January. 1. Received an electric and gas utility bill for $375 for January services to be paid in February. g. Ordered $1,170 in supplies. h. Paid $1,650 on account in January. L Paid $17,900 in wages to employees in January for work done this month. J. Received and paid cash for the supplies in (g). 3. Post the journal entries to the T-accounts. Show the unadjusted beginning and ending balances in the T-accounts. Cash Beg Bal End. Bal Account Receivable Beg. Bal End. Bal Supplies Equipment Supplies Beg. Bal Equipment Beg. Bal End. Bal. End. Bal. Land Building Beg. Bal Beg Bal End. Bal End. Bal Accounts Payable Deferred Revenue Beg. Bal Beg. Bal. End. Bal End. Bal Notes Payable Common Stock Beg. Bal Beg. Bal End. Bal End. Bal. Retained Earnings Service Revenue Beg Bal Beg. Bal. End. Bal. End. Bal. Rent Revenue Salaries and Wages Expense Beg. Bal. Beg. Bal End. Bal End. Bal. End. Bal. End. Bal. Rent Revenue Salaries and Wages Expense Beg. Bal. Beg. Bal. End. Bal. End. Bal. Utilites Expense Beg. Bal. End. Bal
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