Accounting question Chapter 5 comprehensive problem.The trial balance of Pacilio Security Services Inc. as of January 1, 2015, had the following normal balances:

cash $62,860

Accounts receivable 20,500

supplies 150

prepaid rent 2,000

merchandise inventory (9@240) 2,160

land 4,000

acc. payable 980

salaries payable 1,500

common stock 50,000

retained earning 39,190

1. Paid the salaries payable from 2014

2. On January 15, purchased 20 standard alarm systems for cash at a cost of $250.

3. On February 1, paid the accounts payable of $980, but not within the discount period. (The company uses the gross method).

4. On March 1, leased a business van. Paid $4,800 for one year's lease in advance.

5. Paid $7,200 on May 1 for one year's rent on the office in advance

6. Purchased with cash $500 of supplies to be used over the next several months by the business.

7. Purchased with cash another 25 alarm systems on August 1 for resale at a cost of $260 each.

8. On September 5, purchased on account 30 standard alam systems at a cost of $265.

9. Installed 60 standard alarm systems for $33,000. $22,000 of sales were on account and $11,000 were cash sales. Note. Be sure to record cost of goods sold using the perpetual FIFO method

10. Made a full refund to a dissatisfied customer who returned her alarm system. The sale had been a cash sale for $550 with a cost of $260.

11. Paid installers and other employees a total of $21,000 cash for salaries.

12. Sold $45,000 of monitoring service during the year. The services are billed to the customers each month.

13. Sold an additional moniroting service for $1,200 for one year's service. The customer paid the full amount of $1,200 on October 1.

14. Collected $74,000 of account receivable during the year.

15. Paid an additional $6,000 to settle some of the accounts payable.

16. Paid $3,500 of advertising expense for the year.

17. Paid $2,320 of utilities expense for the year.

18. Paid a dividend of $15,000 to the shareholders.

Adjustments

19. There was $200 of supplies on hand at the end of the year.

20. Recognized the expired rent for both the van and the office building for the year.

21. Recognized the revenue earned from transaction 13.

22. Accrued salaries at December 31, 2015 were $1,000

Required

a. Record the above transactions in general journal form

b. Post the transactions to T-accounts

c. Prepare a trial balance.

d. Prepare an income statement, statement of changes in stockholder's equity, balance sheet, and statement of cash flow.

e. Close the temporary account to retained earnings

f. Post the closing entries to the T-accounts and prepare an after-closing trial balance.