r Three Homework Instructions I help Question 1 o 6 Save & Ext Subnt 2.00 points
ID: 2329755 • Letter: R
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r Three Homework Instructions I help Question 1 o 6 Save & Ext Subnt 2.00 points Stacey's Piano Rebuilding Company has been operating for one year. At the start of the second year, its income statement accounts had zero balances and its balance sheet account balances were as follows S 9.200 3.040 Cash 6,200 Accounts payable 30,800 Uneamed revenue Supplies Equipment Land Building 47 200 1,500 Note payable long-term) 9,900 Common stock 7800 Retained eamings 20200 788 24,400 Additional paid-in capital b Received a $600 deposit from a customer who wanted her piano rebuilt .Rented a partof the biding to a boyde repar shop, receved S840 for rent n January." d. Received $8, 100 from customers as payment on their accounts e Received an electric and gas utility bill for $430 to be paid in February t Ordered $870 in supplies. g Paid $1.340 on account in January h. Received from the home of Stacey Eddy, the major shareholder, a $960 tool i Paid $14,200 in wages to employees who worked in January Deciared and paid a $2,300dividend (reduce Retained Eanings and Cash). k. Received and paid cash for the supplies in m. ) to use in the business in exchange for 110 shares of $1 par value stock Required Prepare an income statement for January 31 ignore income taxes). Income Statement (unadjusted) Operating revenues MacBook AirExplanation / Answer
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3. In the books of Blaine Air Transport Service Inc.:
Stacey's Piano Rebuilding Company Income Statement ( Unadjusted) Operating Revenues: Service Revenue $ 19,100 Rent Revenue 840 Total Operating Revenues $ 19,940 Operating Expenses: Wages Expense 14,200 Utilities Expense 430 Total Operating Expenses 14,630 Other Item $ 0 Net Income $ 5,310Related Questions
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