[The following information applies to the questions displayed below Ricky’s Piano Rebuilding Company has been operating…

[The following information applies to the questions displayed below Ricky’s Piano Rebuilding Company has been operating…

[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: Cash Accounts Receivable Supplies Equipment Land Building $ 7100 Accounts Payable 29,750 2,200 11,200 9,800 22,600 Unearned Revenue (deposits) Notes Payable Common Stock Retained Earnings $12,500 3,550 42,250 17,000 7,350 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 received for January. c. Delivered five rebuilt pianos to customers who paid $14,425 in cash. d. Delivered two rebuilt pianos 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. Paid $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).

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