Ricky's Piano Rebuilding Company has been operating for one year. On January 1, at the...
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Ricky's Piano Rebuilding Company has been operating for one year. On January 1, at the start of it year, its income statement accounts had zero balances and its balance sheet account balances we follows: Cash Accounts Receivable Supplies Equipment Land Building $ 9,300 4,250 46,000 8,500 19,600 $ 8,700 Accounts Payable 35,750 2,650 8,400 6,250 25,900 Unearned Revenue (deposits) Notes Payable Common Stock Retained Earnings Following are the January 2013 transactions: a. Received a $975 deposit from a customer who wanted her piano rebuilt in February b. Rented a part of the building to a bicycle repair shop; $475 rent received for January. c. Delivered five rebuilt pianos to customers who paid $20,300 in cash. d. Delivered two rebuilt pianos to customers for $10,200 charged on account. e. Recelved $7,350 from customers as payment on their accounts. f. Recelved an electric and gas utility bill for $580 for January services to be paid in February. g. Ordered $1,225 in supplies. h. Paid $1,850 on account in January. i. Paid $12,100 in wages to employees in January for work done this month. J. Recelved and paid cash for the supplies in (g)
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