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Prepare the statement of retained earnings for the month ended January 31, 2018. You will need to determine and enter the accounts and balances to prepare the Statement of Retained Earnings. If there are no dividends, include a line that reports Dividends of zero. 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. 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 $65,000 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 $37,900 on 1/2; paid $13,300 cash and signed a three-year note for the remainder owed c. Paid $17,400 for an Internet advertisement that ran today on 1/3. d. On January 4 , purchased and recelved $3,200 of supplies on account. e. Received $175,000 cash on 1/5 from customers for service revenue earned but not previously recorded in January. t On January 6 , paid $3,200 cash for supplies purchased on January 4 . g. On January 7 , sold 18,700 subscriptions at $10 each for services provided during January. Half was collected in cash and half was sold on account. h. Paid $325,000 in wages to employees on 1/30 for work done in January. 1. On January 31 , recelved an electric and gas utility bill for $5,700 for January utility services. The bill will be paid in February. Calculate net profit magin, expressed as a percent (Round your answer to 1 decirnal place) Net Profs Margin % Prepare the journal entries to record the transactions (a) through (i). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Recelved $65,000 cash from customers on 1/1 for subscriptions that had aiready been earned and charged on account in 2020 . Record the transaction. Notei Enter debits before credits. Journal entry worksheet 5678 Paid $17,400 for an Internet advertisement run on 1/3. Record the transaction. Note: Enter debits before credits. Required information [The following information applies to the questions displayod below) Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of \$14. 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 Utilies Expense. The following transections occurred duting the January month: a. Received $67,250 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020 . b. Purchased to new computer servers for $34.500 on 1/2: paid $17,300 cash and signed a threa-year note for the remainder owed. c. Paid $18,100 for an internet advertisement that ran today on 1/3. d. On January 4 , purchased and recelved $4.200 of supplies on account. e. Received $225,000 cash on 1/5 from customers for service revenue earned but not previously recorded in January I On January 6 , paid $4,200 cash for supplies purchased on Janciery 4. g. On January 7 , sold 19.000 subscriptions at $14 each for services provided during January. Half was collected in cash and half was sold on account. h. Paid $450,000 in wages to employees on 1/30 for work done in January l. On January 31 , received an electric and gas utility bill for $5.600 for January utility services. The bill will bo paid in February hoose the appropriate accounts to be reported on the income statement. However, you will need to calculate and enter the nount of the net income or loss for the period. e. Received $225,000 cash on 1/5 from customers for service revenue earned but not previously recorded in January. t On January 6, paid $4,200 cash for supplies purchased on January 4 9. On January 7, sold 19,000 subscriptions at $14 each for services provided during January. Half was collected in cash and half wos sold on account. n. Paid $450,000 in wages to employees on 1/30 for work done in January 1. On January 31, received an electric and gas utility bill for $5,600 for January utility services. The bill will be paid in February. Required: 1. Analyze the effect of the January transactions on the accounting equation, and indicate the account, amount, and direction of the effect of each transaction. (Enter any decreases to Assets, Liabilities, and Stockholder's Equity with a minus sign.) The ending balance values from the General Ledger tab flows through to the Trial Balance below. \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Supplies } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 19,200 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Land } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 1,100,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Bulldings } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 518,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Equlpment } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 905,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Accounts Payable } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 143,000 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Doferred Revenue } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 110,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Notes Payable (long-torm) } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 69,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Common Stock } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 2,000,000 \\ \hline \end{tabular} Retained Earnings \begin{tabular}{|c|c|c|c|c|} \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 2,482,200 \\ \hline \end{tabular} Vanishing Games Corporation (VGC) operates a massively multiplayer online game, changing ployers a monthly subscription of $10 At the start of Janvary 2021, VGC's income statement accounts had zero balances and its balance shoet account bulances wore as follows: In addition to the above accounts, VGC's chart of accounts includes the following Sevice Revenue, Salaries and Wages Expense, Advertising Expense, and Utities Expense. The January transactions are shown below: a. Received $65,000 cash from customers on v1 for subscriptions that had already beon earned and charged on account in 2020 . b. Purchased 10 now computer servers for $37,900 on 1/2; paid $13,300 cash and soned a thee vear note for the remainder owed c. Paid $17,400 for an inteinet advertisement that ran todsy on v/3. d. On January 4, purchssed and received $3.200 of supplies on account. e. Received \$175,000 cash on 1/5 from customers for service revenue earned but not previously recorded in January t On January 6 , paid $3.200 cash for supplies purchased on January 4. 9. On January 7 , sold t8,700 subseriptions at $10 each for services provided during Janusry Harf was collected in cash and hat was sold on account. h Paid $325,000 in wages to employees on 130 for work done in January 1 On January 31 , received an electric and gas utlity bal for $5,700 for January utlity services. The bil wil be pold in February General Journal tab - Prepare the jourral entries to record the transactions (o) theough (0). Review the accounts as shown in the General Ledger and Trial Bolunce tabs In the General Ledger and Fial Batance tabs Each journal entry is posted automat GenarelLedour neral ledger. General Ledger Account Use the dropdowns to select the accounts properly included on the classifled balance sheet. You will need to determine and enter the balance of the Common Stock and Retained Earnings accounts in the Stockholders' Equity section. repare the journal entries to record the transactions (a) through (i). (If no entry is required for a transaction/event, select "No joumal intry required" in the first account field.) Journal entry worksheet 56789 Purchased 10 new computer servers for $37,900 on 1/2; paid $13,300 cash and signed a three-year note for the remainder owed. Record the transaction. Note: Enter debits before credits. Prepare the statement of retained earnings for the month ended January 31, 2018. You will need to determine and enter the accounts and balances to prepare the Statement of Retained Earnings. If there are no dividends, include a line that reports Dividends of zero. 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. 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 $65,000 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 $37,900 on 1/2; paid $13,300 cash and signed a three-year note for the remainder owed c. Paid $17,400 for an Internet advertisement that ran today on 1/3. d. On January 4 , purchased and recelved $3,200 of supplies on account. e. Received $175,000 cash on 1/5 from customers for service revenue earned but not previously recorded in January. t On January 6 , paid $3,200 cash for supplies purchased on January 4 . g. On January 7 , sold 18,700 subscriptions at $10 each for services provided during January. Half was collected in cash and half was sold on account. h. Paid $325,000 in wages to employees on 1/30 for work done in January. 1. On January 31 , recelved an electric and gas utility bill for $5,700 for January utility services. The bill will be paid in February. Calculate net profit magin, expressed as a percent (Round your answer to 1 decirnal place) Net Profs Margin % Prepare the journal entries to record the transactions (a) through (i). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Recelved $65,000 cash from customers on 1/1 for subscriptions that had aiready been earned and charged on account in 2020 . Record the transaction. Notei Enter debits before credits. Journal entry worksheet 5678 Paid $17,400 for an Internet advertisement run on 1/3. Record the transaction. Note: Enter debits before credits. Required information [The following information applies to the questions displayod below) Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of \$14. 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 Utilies Expense. The following transections occurred duting the January month: a. Received $67,250 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020 . b. Purchased to new computer servers for $34.500 on 1/2: paid $17,300 cash and signed a threa-year note for the remainder owed. c. Paid $18,100 for an internet advertisement that ran today on 1/3. d. On January 4 , purchased and recelved $4.200 of supplies on account. e. Received $225,000 cash on 1/5 from customers for service revenue earned but not previously recorded in January I On January 6 , paid $4,200 cash for supplies purchased on Janciery 4. g. On January 7 , sold 19.000 subscriptions at $14 each for services provided during January. Half was collected in cash and half was sold on account. h. Paid $450,000 in wages to employees on 1/30 for work done in January l. On January 31 , received an electric and gas utility bill for $5.600 for January utility services. The bill will bo paid in February hoose the appropriate accounts to be reported on the income statement. However, you will need to calculate and enter the nount of the net income or loss for the period. e. Received $225,000 cash on 1/5 from customers for service revenue earned but not previously recorded in January. t On January 6, paid $4,200 cash for supplies purchased on January 4 9. On January 7, sold 19,000 subscriptions at $14 each for services provided during January. Half was collected in cash and half wos sold on account. n. Paid $450,000 in wages to employees on 1/30 for work done in January 1. On January 31, received an electric and gas utility bill for $5,600 for January utility services. The bill will be paid in February. Required: 1. Analyze the effect of the January transactions on the accounting equation, and indicate the account, amount, and direction of the effect of each transaction. (Enter any decreases to Assets, Liabilities, and Stockholder's Equity with a minus sign.) The ending balance values from the General Ledger tab flows through to the Trial Balance below. \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Supplies } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 19,200 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Land } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 1,100,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Bulldings } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 518,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Equlpment } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 905,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Accounts Payable } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 143,000 \\ \hline \end{tabular} \begin{tabular}{|r|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Doferred Revenue } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & & & & 110,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Notes Payable (long-torm) } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 69,000 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Common Stock } \\ \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 2,000,000 \\ \hline \end{tabular} Retained Earnings \begin{tabular}{|c|c|c|c|c|} \hline No. & Date & Debit & Credit & Balance \\ \hline & January 01 & & & 2,482,200 \\ \hline \end{tabular} Vanishing Games Corporation (VGC) operates a massively multiplayer online game, changing ployers a monthly subscription of $10 At the start of Janvary 2021, VGC's income statement accounts had zero balances and its balance shoet account bulances wore as follows: In addition to the above accounts, VGC's chart of accounts includes the following Sevice Revenue, Salaries and Wages Expense, Advertising Expense, and Utities Expense. The January transactions are shown below: a. Received $65,000 cash from customers on v1 for subscriptions that had already beon earned and charged on account in 2020 . b. Purchased 10 now computer servers for $37,900 on 1/2; paid $13,300 cash and soned a thee vear note for the remainder owed c. Paid $17,400 for an inteinet advertisement that ran todsy on v/3. d. On January 4, purchssed and received $3.200 of supplies on account. e. Received \$175,000 cash on 1/5 from customers for service revenue earned but not previously recorded in January t On January 6 , paid $3.200 cash for supplies purchased on January 4. 9. On January 7 , sold t8,700 subseriptions at $10 each for services provided during Janusry Harf was collected in cash and hat was sold on account. h Paid $325,000 in wages to employees on 130 for work done in January 1 On January 31 , received an electric and gas utlity bal for $5,700 for January utlity services. The bil wil be pold in February General Journal tab - Prepare the jourral entries to record the transactions (o) theough (0). Review the accounts as shown in the General Ledger and Trial Bolunce tabs In the General Ledger and Fial Batance tabs Each journal entry is posted automat GenarelLedour neral ledger. General Ledger Account Use the dropdowns to select the accounts properly included on the classifled balance sheet. You will need to determine and enter the balance of the Common Stock and Retained Earnings accounts in the Stockholders' Equity section. repare the journal entries to record the transactions (a) through (i). (If no entry is required for a transaction/event, select "No joumal intry required" in the first account field.) Journal entry worksheet 56789 Purchased 10 new computer servers for $37,900 on 1/2; paid $13,300 cash and signed a three-year note for the remainder owed. Record the transaction. Note: Enter debits before credits