[The following information applies to the questions displayed below.] Ricky's Piano Rebuilding Company has been operating...

  

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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 of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: $ 7,100 Accounts Payable 29,750 Unearned Revenue (deposits) 2,200 Notes Payable 11,200 Common Stock 9,800 Retained Earnings 22,600 Cash $ 12,500 Accounts Receivable 3,550 Supplies Equipment 42,250 17,000 7,350 Land Building Following are the January 2013 transactions: a. Received a $795 deposit from a customer who wanted her piano rebuilt in February. b. Rented a part of the building to a bicycle repair shop; $545 rent recelved for January. c. Delivered five rebuilt pianos to customers who paid $14,425 in cash. d. Delivered two rebuilt planos to customers for $7,600 charged on account. e. Received $6,400 from customers as payment on their accounts. f. Received an electric and gas utility bill for $750 for January services to be paid in February. g. Ordered $1,140 in supplies, h. Pald $3,400 on account in January. I. Paid $16,900 in wages to employees in January for work done this month. J. Received and paid cash for the supplies in (g). Prepare journal entries for the above January transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 4 5 6 7 8. 9. 10 Received a $795 deposit from a customer who wanted her piano rebuilt in February. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal 3. Required: Prepare an unadjusted trial balance at the end of January. RICKY'S PIANO REBUILDING COMPANY Unadjusted Trial Balance Account Name Debit Credit Totals [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: $ 7,100 Accounts Payable 29,750 Unearned Revenue (deposits) 2,200 Notes Payable 11,200 Common Stock 9,800 Retained Earnings 22,600 Cash $ 12,500 Accounts Receivable 3,550 Supplies Equipment 42,250 17,000 7,350 Land Building Following are the January 2013 transactions: a. Received a $795 deposit from a customer who wanted her piano rebuilt in February. b. Rented a part of the building to a bicycle repair shop; $545 rent recelved for January. c. Delivered five rebuilt pianos to customers who paid $14,425 in cash. d. Delivered two rebuilt planos to customers for $7,600 charged on account. e. Received $6,400 from customers as payment on their accounts. f. Received an electric and gas utility bill for $750 for January services to be paid in February. g. Ordered $1,140 in supplies, h. Pald $3,400 on account in January. I. Paid $16,900 in wages to employees in January for work done this month. J. Received and paid cash for the supplies in (g). Prepare journal entries for the above January transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 4 5 6 7 8. 9. 10 Received a $795 deposit from a customer who wanted her piano rebuilt in February. Record the transaction. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal 3. Required: Prepare an unadjusted trial balance at the end of January. RICKY'S PIANO REBUILDING COMPANY Unadjusted Trial Balance Account Name Debit Credit Totals

Answer rating: 100% (QA)

Journal Entries No Particulars Debit Credit a Cash ac 795 To unearned Revenue 795 Being advance rece... View the full answer