Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The R in t o the a nebung come testen operating for one year on January, the second yeah e dence and balance the combines

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The R in t o the a nebung come testen operating for one year on January, the second yeah e dence and balance the combines were for com b e a part of the 100 Deveredver w h973 Delivered t o $8.900 charged on account Received hom w a s payment on the accounts Received an electrice and for $375 for any services to be Ordered Sumnes Pod 1850 on January Pwd 7000 inwes to employees in January for work done w month Received and chor the w ees in distruary E3-13 Part 3 Po the Tacco Show the beginning and ending in the accounts F E3-13 Recording and Posting Accrual Basis Journal Entries, and Preparing an Unadjusted Tha Balang and Preliminary Financial Statements [LO 3-2, 3-3, LO 3-4) The following information applies to the questions displayed below.) Ricky's Plano 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: Accounts Receivable Suplies Equipment Land Building $6,950 Accounts Payable 24,000 Deferred Revenue (deposito) 2,250 Notes Payable (long-ter) 10,200 C Stock Retained Earnings 31,00 $ 9. 4. 47, 9.se 11. Following are the January transactions a. Received a $550 deposit from a customer who wanted her plano rebuilt in February b. Rented a part of the building to a bicycle repair shop: $400 rent received for January cDelivered five rebuilt pianos to customers who paid $16,975 in cash d. Delivered two rebut plans to customers for $8.900 charged on account. e. Received $6.850 From customers as payment on their accounts Received an electric and gas utility bill for $375 for January services to be paid in February g. Ordered $1170 in supplies h. Pald $1650 on account in January LPad $17.900 in wages to employees in January for work done this month. Received and paid cash for the supplies in a E3-13 Part 5 5-a. Prepare an income statement for the month ended and at January 31 S-b. Prepare a statement of retained earnings for the month ended and at January 31 5-c. Prepare a classified balance sheet for the month ended and at January 31 Complete this question by entering your answers in the tabs below. Red SA Reg 58 Regs Prepare an income statement for the month anded and at January 31 RICKYSPIAND RERURDING COMPANY Required information E3-13 Recording and Posting Accrual Basis Journal Entries, and Preparing an Unadjusted Trial Balance and Preliminary Financial Statements [LO 3-2, 3-3, LO 3-4) The following information applies to the questions displayed below.) Ricky's Plano 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: Accounts Receivable Supplies Equipment Land Building $ 6,950 Accounts Payable 24,00 Deferred Revenue (deposits) 2,250 Notes Payable (long-tere) 10,200 Coron Stock 7350 Retained Earnings 31,800 $ 9.350 4,850 47.750 9.500 11,300 Following are the January transactions: a. Received a $550 deposit from a customer who wanted her plano rebuilt in February b. Rented a part of the building to a bicycle repair shop: $400 rent received for January c. Dellvered five rebuilt pianos to customers who paid $16.975 In cash. d. Delivered two rebuilt planos to customers for $8.900 charged on account. e. Received $6,850 from customers as payment on their accounts. . Received an electric and gas utility bill for $375 for January services to be paid in February g. Ordered $1.170 in supplies. h. Pald $1,650 on account in January 1. Paid $17.900 in wages to employees in January for work done this month. J. Received and paid cash for the supplies in (gl. E3-13 Part 5 5-a. Prepare an income statement for the month ended and at January 31, 5-b. Prepare a statement of retained earnings for the month ended and at January 31 5-c. Prepare a classified balance sheet for the month ended and at January 31. Complete this question by entering your answers in the tabs below. Red SA Reg 58 Req SC Prepare a statement of retained earnings for the mish ended and at January 31. RICKY'S PIANO REBUILDING COMPANY Statement of Retained Earnings Retained Earnings January 1 Retained Earnings January 31 Regsc> Ricky's Plano Rebuilding Company has been operating for one year on January at the start of its second year.is Income statement accounts had zero balances and its balance sheet account balances were as follows Cash Accounts Receivable Supplies Equipent $ 6,950 Accounts Payable 24,000 Deferred Revenue (deposits) 2,250 votes Payable (long-tera) 10,000 common stock 7.50 Retained Earnings 31. 4,850 47,750 . Building Following are the January transactions: a. Received a $550 deposit from a customer who wanted her plano rebut in February b. Rented a part of the building to a bicycle repair shop: $400 rent received for January c Delivered live rebut plans to customers who paid $16.975 in cash d. Delivered two rebuilt plans to customers for $8.900 charged on account e. Received $6.850 from customers as payment on their accounts Received an electric and gas utility bill for $375 for January services to be paid in February Ordered Sum in supplies h. Pald $1650 on account in January Paid $17.900 in wages to employees in January for work done this month Received and paid cash for the supplies in it E3-13 Part 5 5-a. Prepare an income statement for the month ended and at January 31 Sb. Prepare a statement of retained earnings for the month ended and at January 31 5. Prepare a classified balance sheet for the month ended and at January 31 Complete this question by entering your answers in the tabs below. Prepare d balance sheet for the month ended and at January 31 AND LEG COMPANY

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

How To Audit Anything The Pink Book Of Auditing Any Process

Authors: R. Alakbarov

1st Edition

1520195575, 978-1520195575

More Books

Students also viewed these Accounting questions