prehensive Problem 6 Seed Help Save & Exit Submit 100 00 The trial balance of Pacilio Security Services, Incorporated as of January 1, Year 3, had the following normal balonces Cash Petty cash $93,708 Accounts receivable Allowance for doubtrol accounts 22,540 1,334 Supplies 250 Prepaid rent 3.600 Merchandise inventory (18 @ $285) 5,130 Land 4.000 Salaries payable 2.100 Common stock 50,000 Retained earnings 75,894 During Year 8. Pacilio Security Services experienced the following transactions: 1. Paid the salaries payable from Year 2 2. Purchased equipment and a van for a lump sum of $36,000 cash on January 2, Year 8. The equipment was appraised for $10,000 and the van was appraised for $30,000. 3. Paid $9,000 on May 1 Year 8. for one year's office rent in advance 4. Purchased $300 of supplies an account 5. Purchased 120 alarm systems at a cost of $280 each. Paid cash for the purchase 6. After numerous attempts to collect from customers, wrote off $2,350 of uncollectible accounts receivable 7. Sold 115 alarm systems for $580 each All sales were on account. 8. Record the cost of goods sold related to the sale from Event 7 using the FIFO method 9. Billed $86,000 of monitoring services for the year. Credit card sales amounted to $36,000, and the credit card company charged a 4 percent fee. The remaining $50,000 were sales on account o Replenished the petty cash fund on June 30. The fund hod $12 cash and receipts of 545 for yard mowing. $28 for office supplies expense, and $11 for miscellaneous expenses 11. Collected the amount due from the credit card company 2. Paid installers and other employees a total of $52,000 cash for salaries, 3. Collected $115.500 of accounts receivable during the year. 4. Paid $12.500 of advertising expense during the year 5. Paid $6,000 of utilities expense for the year. 6. Sold the land, which was purchased in 2011, for $12,000 7. Pald the accounts payable B. Pald a dividend of $10,000 to the shareholders Adjustments 330.00 din cont cara company charged 4 percent fee. The remaining $50,000 were sales on account o. Replenished the petty cash fund on June 30. The fund had $12 cash and receipts of $45 for yard mowing, $28 for office supplies expense, and $11 for miscellaneous expenses 11. Collected the amount due from the credit card company 2. Paid installers and other employees a total of $52,000 cash for salaries 3. Collected $115.500 of accounts receivable during the year 4. Paid 512,500 of advertising expense during the year. 5. Paid $6.800 of utilities expense for the year. 6. Sold the land, which was purchased in 2011, for $12,000. 17. Paid the accounts payable. 8. Paid a dividend of $10,000 to the shareholders. 2014 DO Print Adjustments 19. Determined that 5180 of supplies were on hand at the end of the year 10. Recognized the expired rent for both the old van and the office building for the year. The lease on the van was not renewed. Rent paid on March 1 Year 7. for the van was $4.800 21. Recognized uncollectible accountsexpense for the year using the allowance method. Pacito estimates that percent of sales on account will not be collected 12. Recognized depreciation expense on the equipment and the van. The equipment has a five year ife and a $2,000 salvage value The van has a four year life and a $6.000 salvage value. The company uses double-declining balance for the van and straight-line for the equipment 13. Accrued salaries at December 31, Year 8 were $1,500 Generi Requirement General Income Changes in Halance Statement Journal Tral Balance Ledger Statement St Sheet Analysis of CF Prepare the statement of changes in stockholders equity for the year ended December 31, Year 8. You will need to determine and enter the accounts and balances to prepare the Statement of Changes in Stockholders' Equity Paco Securry fieri. Incorporated Diamant of China El Ferwinded Decebal Year Beginning Common Stock Leben 12. Recognized depreciation expense on the equipment and the van. The equipment has a five-year life and a $2,000 salvage value The van has a four-year life and a $6,000 salvage value. The company uses double-declining balance for the van and straight-line for the equipment. 23. Accrued salaries at December 31, Year 8, were $1,500. 100 points 2 02:09:32 ebook Requirement General General Income Trial Balance Changes in Balance Journal Statement Ledger Statement SE Sheet of CF Analysis Prepare the statement of changes in stockholders' equity for the year ended December 31, Year 8. You will need to determine and enter the accounts and balances to prepare the Statement of Changes in Stockholders' Equity Pacilio Security Services, Incorporated Statement of Changes in Stockholders'Equity For the Year Ended December 31. Year Beginning Common Stock Add: Common stock issund Ending Common Stock $ 0 Beginning Retained Earnings 25,711 Print References Ending Retained Earnings Total Stockholders' Equity 91.605 91.605 $ Income Statement Balance Sheet>
