Answered step by step
Verified Expert Solution
Question
1 Approved Answer
pls make a jounral entey for all 9 Vanishing Games Corporation (VGC) operates a massively multiplayer online garne, charging players a monthly subscher $11. At
pls make a jounral entey for all 9
Vanishing Games Corporation (VGC) operates a massively multiplayer online garne, charging players a monthly subscher $11. At the start of January 2021. VGC's income statement accounts had zero balances and its balance sheet account balances we follows Cach $ 2,150,000 Accounts Receivable 203.000 Supplies 19,500 Equipment 181.000 Building 512,000 Land 1,420,000 Accounts Payable 122,000 Deferred Revenge 77.00 Notes Payable (due 2025) 153,000 Common Stock 2,100,000 Retained Earnings 2,733,500 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 $62.250 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020. Purchased 10 new computer servers for $34,200 on 12. paid $15,300 cash and signed a three year note for the remainder owed. c. Paid $19.400 for an internet advertisement run on 1/3 d on January purchased and received $3,400 of supplies on account e. Received $180,000 cash on 15 from customers for service revenue earned in January Pald $3,400 cash to a supplier on January 6. On January 7 sold 16,200 subscriptions at $11 each for services provided during January. Half was collected in cash and half was sold on account h. Pald $326,000 in wages to employees on 1/30 for work done in January 1. On Jany 31. received an electric and gas utility bill for $5,670 for January tilly survices. The bill will be paid in February Received $62,250 cash from customers on 1/1 for subscriptions that had already been earned and charged on account in 2020. Record the transaction. Note: Enter debits before credits General Journal Debit Credit Date January 01 Journal entry worksheet wamy SCIVO O ya Duty Services. The will be paid Ford Stmt of General General Requirement Income Trial Balance Journal Retained Balance Sheet Analysis Ledger Statement Earnings 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. VANISHING GAMES CORPORATION Statement of Retained Earnings For the Month Ended January 31, 2021 Retained Earnings, January 1, 2021 Retained Earnings, January 31 2021 VANISHING GAMES CORPORATION Balance Sheet At January 31, 2021 Ch. 13) Saved Advertising Expense, and Utilities Expense. The January transactions are shown below: a Received $62,250 cash from customers on 1/1 for subscriptions that had already been earned and charged on accou b. Purchased 10 new computer servers for $34,200 on 1/2 paid $15,300 cash and signed a three year note for the rem c. Paid $19.400 for an Internet advertisement run on 1/3. d. On January 4, purchased and received $3,400 of supplies on account e. Received $180,000 cash on 1/5 from customers for service revenue earned in January f. Paid $3,400 cash to a supplier on January 6. g. On January 7, sold 16,300 subscriptions at $11 each for services provided during January. Half was collected in cash a sold on account h. Paid $326,000 in wages to employees on 1/30 for work done in January 1. On January 31, received an electric and gas utility bill for $5,670 for January utility services. The bill will be paid in Feb Balance Sheet Analysis Stmt of General General Income Requirement Journal Retained Trial Balance Ledger Statement Earnings Calculate nel profit margin, expressed as a percent (Round your answer to 1 decimal place) Not Pioli Margin Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started