It is a lot but I would be so grateful if this could be done as required!
Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $13. At the start of January 2021, VGC's income statement accounts had zero balances and its balance sheet account balances were as follows: 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 January transactions are shown below: a. Received $57,500 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020 . b. Purchased 10 new computer servers for $42,800 on 1/2; paid $16,400 cash and signed a three-year note for the remainder owed. c. Paid $15,300 for an Internet advertisement run on 1/3. d. On January 4, purchased and received $3,250 of supplies on account. e. Received $205,000 cash on 1/5 from customers for service revenue earned in January. f. On January 6 , paid $3,250 cash for supplies purchased on January 4. g. On January 7 , sold 17,300 subscriptions at $13 each for services provided during January. Half was collected in cash and half was sold on account. h. Paid $400,000 in wages to employees on 1/30 for work done in January. i. On January 31 , received an electric and gas utility bill for $6,300 for January utility services. The bill will be paid in February. General Journal tab - Prepare the journal entries to record the transactions (a) through (i). Review the accounts as shown in the General Ledger and Trial Balance tabs. General Ledger tab - Each journal entry is posted automatically to the general ledger. Trial Balance tab - The ending balance values from the General Ledger tab flows through to the Trial Balance tab. Income Statement tab - Use the drop-down to select the accounts properly included on the income statement. Statement of Retained Earnings tab - Prepare the statement of retained earnings for the month ended January 31,2021. If there are no dividends, include a line that reports Dividends of zero. Balance Sheet tab - Prepare a classified Balance Sheet at January 31, 2021. Analysis tab - Calculate net profit margin, expressed as a percent. Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $13. At the start of January 2021, VGC's income statement accounts had zero balances and its balance sheet account balances were as follows: 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 January transactions are shown below: a. Received $57,500 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020 . b. Purchased 10 new computer servers for $42,800 on 1/2; paid $16,400 cash and signed a three-year note for the remainder owed. c. Paid $15,300 for an Internet advertisement run on 1/3. d. On January 4, purchased and received $3,250 of supplies on account. e. Received $205,000 cash on 1/5 from customers for service revenue earned in January. f. On January 6 , paid $3,250 cash for supplies purchased on January 4. g. On January 7 , sold 17,300 subscriptions at $13 each for services provided during January. Half was collected in cash and half was sold on account. h. Paid $400,000 in wages to employees on 1/30 for work done in January. i. On January 31 , received an electric and gas utility bill for $6,300 for January utility services. The bill will be paid in February. General Journal tab - Prepare the journal entries to record the transactions (a) through (i). Review the accounts as shown in the General Ledger and Trial Balance tabs. General Ledger tab - Each journal entry is posted automatically to the general ledger. Trial Balance tab - The ending balance values from the General Ledger tab flows through to the Trial Balance tab. Income Statement tab - Use the drop-down to select the accounts properly included on the income statement. Statement of Retained Earnings tab - Prepare the statement of retained earnings for the month ended January 31,2021. If there are no dividends, include a line that reports Dividends of zero. Balance Sheet tab - Prepare a classified Balance Sheet at January 31, 2021. Analysis tab - Calculate net profit margin, expressed as a percent
