446,000 1,950,000 Required information [The following information applies to the questions displayed below. Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $10. At the start of January 2018, VGC's income statement accounts had zero balances and its balance sheet account balances were as follows: Cash $ 1,810,000 Accounts Receivable 224,000 Supplies 23, 400 Equipment 916,000 Buildings Land Accounts Payable 120,000 Deferred Revenue 91,000 Notes Payable (due 2025) 159,000 Common Stock 2,600,000 Retained Earnings 2,399,400 In addition to the above accounts, VGC's chart of accounts includes the following: Service Revenue, Salaries and Wages Expense, Advertising Expense, and Utilities Expense. The following transactions occurred during the January month: a. Received $68,500 cash from customers on 1/1 for subscriptions that had already been earned in 2017. b. Purchased 10 new computer servers for $30,800 on 1/2; paid $19,900 cash and signed a three-year note for the remainder owed. c. Paid $17,100 for an Internet advertisement run on 1/3. d. On January 4, purchased and received $3,350 of supplies on account. e. Received $205,000 cash on 1/5 from customers for service revenue earned in January. f. Paid $3,350 cash to a supplier on January 6. g. On January 7, sold 19,400 subscriptions at $10 each for services provided during January. Half was collected in cash and half was sold on account. h. Paid $360,000 in wages to employees on 1/30 for work done in January. i. On January 31, received an electric and gas utility bill for $6,180 for January utility services. The bill will be paid in February 3. Enter the beginning balances shown above in the following T-accounts and post the journal entries. Cash Accounts Receivable Beg. Bal Beg. Bal End. Bal End, Bal Supplies Equipment Beg. Bal Beg. Bal End. Bal End. Bal Buildings Land Beg. Bal Beg. Bal End. Bal End. Bal Accounts Payable Deferred Revenue Beg. Bal Beg. Bal End. Bal End. Bal Notes Payable (long-term) Common Stock Beg. Bal Beg. Bal End. Bal End. Bal Retained arning Service Revenue Beg. Bal Beg. Bal End. Bal End. Bal Salaries and Wages Expense Advertising Expense Beg. Bal Beg. Bal End. Bal End. Bal Utilities Expense Beg. Bal End. Bal Required information [The following information applies to the questions displayed below. Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $10. At the start of January 2018, VGC's income statement accounts had zero balances and its balance sheet account balances were as follows: Cash Accounts Receivable Supplies Equipment Buildings Land Accounts Payable Deferred Revenue Notes Payable (due 2025) Common Stock Retained Earnings $1,810,000 224,000 23, 400 916,000 446,000 1,950,000 120,000 91,000 159,000 2,600,000 2,399,400 In addition to the above accounts, VGC's chart of accounts includes the following: Service Revenue, Salaries and Wages Expense, Advertising Expense, and Utilities Expense. The following transactions occurred during the January month: a. Received $68,500 cash from customers on 1/1 for subscriptions that had already been earned in 2017. b. Purchased 10 new computer servers for $30,800 on 1/2; paid $19,900 cash and signed a three-year note for the remainder owed. c. Paid $17,100 for an Internet advertisement run on 1/3. d. On January 4, purchased and received $3,350 of supplies on account. e. Received $205,000 cash on 1/5 from customers for service revenue earned in January. f. Paid $3,350 cash to a supplier on January 6. g. On January 7, sold 19,400 subscriptions at $10 each for services provided during January. Half was collected in cash and half was sold on account. h. Paid $360,000 in wages to employees on 1/30 for work done in January. i. On January 31, received an electric and gas utility bill for $6,180 for January utility services. The bill will be paid in February 4. Prepare an unadjusted trial balance as of January 31, 2018. VANISHING GAMES CORPORATION Unadjusted Trial Balance Account Name Debit Credit Cash Accounts Receivable Supplies Equipment Buildings Land Accounts Payable Deferred Revenue Notes Payable (long-term) Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Advertising Expense Utilities Expense Total $ 0 $ 0