80.2K

Verified Solution

Link Copied!

Journal accounts for a- j please

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 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: 5,800 Accounts Payable 33,750 Deferred Revenue (deposits) Cash Accounts Receivable Supplies Equipment Land Building $10,050 4,600 57,250 13,500 4,050 1,400 Notes Payable (long-term) 14,800 Common Stock 8,700 Retained Earnings 25,000 Following are the January transactions a. Received a $955 deposit from a customer who wanted her piano rebuilt in February b. Rented a part of the building to a bicycle repair shop; $385 rent received for January. c. Delivered five rebuilt pianos to customers who paid $17,275 in cash d. Delivered two rebuilt pianos to customers for $8,800 charged on account. e. Received $5,950 from customers as payment on their accounts f Received an electric and gas utility bill for $720 for January services to be paid in February. g. Ordered $885 in supplies. h. Paid $2,200 on account in January. i. Paid $19,200 in wages to employees in January for work done this month. j. Received and paid cash for the supplies in (g)

Answer & Explanation Solved by verified expert

See Answer