Ricky's Piano Rebuilding Company has been in business for a year. On January 1, at the beginning
Fantastic news! We've Found the answer you've been seeking!
Question:
Ricky's Piano Rebuilding Company has been in business for a year. On January 1, at the beginning of the second year, there is a zero balance in the income statement accounts, and the balance sheet account balances are as follows:
in advance | $ | 6.000 | Accounts payable | $ | 8.000 | ||
Accounts receivable | 25.000 | Deferred Income (deposit) | 3.200 | ||||
Supply | 1.200 | Debt Securities (long-term) | 40.000 | ||||
Equipment | 8.000 | stock | 8.000 | ||||
Kara | 6.000 | Retained earnings | 9.000 | ||||
Bina | 22.000 | ||||||
January transactions are as follows:
- a. He received a $500 deposit from a customer who wanted his piano rebuilt in February.
- b. He leased part of the building to a bicycle repair shop; A rent of $300 was received for the month of January.
- c. It delivered five rebuilt pianos to customers paying $14,500 in cash.
- d. He delivered two reconstructed pianos to customers for the $7,000 deducted from the account.
- e. $6,000 was charged to their account from customers.
- f. For services in January, a $350 electricity and gas bill was received to be paid in February.
- g. I ordered supplies for $800.
- h. He paid $1,700 into the account in January.
- i. He paid employees $10,000 in January for work done this month.
- j. Cash received and paid for materials in (g) .
Prepare an unadjusted trial balance on January 31st.
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
Posted Date: