Required information Skip to question The following information applies to the questions displayed below Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $14 At the start of January 2021, VGCs income statement accounts had zero balances and its balance sheet account balances were as follows Cash $ 2,410,000 Accounts Receivable 218,000 Supplies 17,700 Equipment 950,000 Buildings 440,000 Land 1,620,000 Accounts Payable 150,000 Deferred Revenue 145,000 Notes Payable (due 2025) 65,000 Common Stock 2,400,000 Retained Earnings 2,895,700 In addition to the above accounts, VGCs chart of accounts includes the following Service Revenue, Salaries and Wages Expense, Advertising Expense, and Utilities Expense The following transactions occurred during the January month Received $54,500 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 $42,000 on 1 2 paid $19,200 cash and signed a three year note for the remainder owed Paid $16,800 for an Internet advertisement run on 1 3 On January 4, purchased and received $4,600 of supplies on account Received $195,000 cash on 1 5 from customers for service revenue earned in January On January 6, paid $4,600 cash for supplies purchased on January 4 On January 7, sold 14,400 subscriptions at $14 each for services provided during January Half was collected in cash and half was sold on account Paid $371,000 in wages to employees on 1 30 for work done in January On January 31, received an electric and gas utility bill for $6,170 for January utility services The bill will be paid in February Required 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 ) 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 ) Assets Liabilities Stockholders' Equity a a b b h

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Required information Skip to question [The following information applies to the questions displayed below.] Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging

Required information

Skip to question

[The following information applies to the questions displayed below.]

Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $14. At the start of January 2021, VGCs income statement accounts had zero balances and its balance sheet account balances were as follows:

Cash	$ 2,410,000
Accounts Receivable	218,000
Supplies	17,700
Equipment	950,000
Buildings	440,000
Land	1,620,000
Accounts Payable	150,000
Deferred Revenue	145,000
Notes Payable (due 2025)	65,000
Common Stock	2,400,000
Retained Earnings	2,895,700

In addition to the above accounts, VGCs chart of accounts includes the following: Service Revenue, Salaries and Wages Expense, Advertising Expense, and Utilities Expense. The following transactions occurred during the January month:

Received $54,500 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 $42,000 on 1/2; paid $19,200 cash and signed a three-year note for the remainder owed.
Paid $16,800 for an Internet advertisement run on 1/3.
On January 4, purchased and received $4,600 of supplies on account.
Received $195,000 cash on 1/5 from customers for service revenue earned in January.
On January 6, paid $4,600 cash for supplies purchased on January 4.
On January 7, sold 14,400 subscriptions at $14 each for services provided during January. Half was collected in cash and half was sold on account.
Paid $371,000 in wages to employees on 1/30 for work done in January.
On January 31, received an electric and gas utility bill for $6,170 for January utility services. The bill will be paid in February.

Required:

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.)

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.) Assets Liabilities Stockholders' Equity a. a. = + b. + = b. = = - - h