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please i want the solution befor 15 min, becouse this HW ... The trial balance of Pacilio Security Services Inc. as of January 1, 2015,
please i want the solution befor 15 min, becouse this HW ...
The trial balance of Pacilio Security Services Inc. as of January 1, 2015, had the following normal balances: During 2015, Pacilio Security Services experienced the following transactions: 1. Paid the salaries payable from 2014. 2. On January 15, purchased 20 standard alarm systems for cash at a cost of $250 cach. 3. On February 1, paid the accounts payable of $980, but not within the discount period. (The company uses the geoss method.) 4. On March 1, leased a business van. Paid $4,800 for one yeer's lease in advance: \$.Paid $7,200 on May 1 for ene year's rent on the office in advance. 6. Jurchased with cash $500 of sypplies to pe used over the neft several months by the businczx 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 alarm systems at a cost of $265. 9. Installed 60 standard alarm systems for $33,000.$22,000 of the sales were on account and S11,000 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 Aish 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 services during the year. The services are billed to the customers each month. 13. SolA an additional monitoring service for $1,200 for one year's service. The customer paid the full amount of $1,200 on Oetober 1 . 14. Collected $74,000 of accounts receivable during the year. 15. Paid an additional $6,000 to settle some of the accounts payable. 16. Paid $3,500 of advertising expense during 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 vitn and the office builcting for the year. 21. Recognized hie revenue earned from transaction 13. 22. Accrued salaries at December 31, 2015, were S1.000. 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 stockholders' cquity. balance sheet. and statement of cash fows. c. Close the temporary accounts to retained earnings. f. Post the elosing entries to the T-accounts and prepare an aferectosing trial balance Step by Step Solution
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