Question

Can someone tell me what I am missing in these T-accounts? My answer says incomplete but I’m not sure what is missing.

work- Ch 3 0 Help Save & Exit S Check my w Ricky's Plano 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 $ 6,000 Accounts Payable 25,000 Deferred Revenue (deposits) 1,200 Notes Payable (long-term) 8,Common Stock 6,000 Retained Earnings 22,000 $ 8,000 3,200 40,000 8,888 9,000 Following are the January transactions: a. Received a $500 deposit from a customer who wanted her piano rebuilt in February b. Rented a part of the building to a bicycle repair shop: $300 rent received for January. c. Delivered five rebuilt pianos to customers who paid $14,500 in cash. d. Delivered two rebuilt pianos to customers for $7,000 charged on account. e. Received $6,000 from customers as payment on their accounts. 1. Received an electric and gas utility bill for $350 for January services to be paid in February. g. Ordered $800 in supplies. h. Paid $1,700 on account in January. 1. Paid $10,000 in wages to employees in January for work done this month. j. Received and paid cash for the supplies in (g). < Prey 8 9 10 of 10 !!! Next >

Answer 1

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(4 The entry for (f) is missed. utility Bill for $350 in January, bayable in february. This means that it is January's expense payable in February Journal entry utilities 350 Expenses Accounts payable 350. Utilities Expense Beg balance 350 End balance 350 Beg. balance (6) Accounts payable 8000 1700 350 ( End balance 665,0