The trial balance of Pacilio Security Services, Inc as of January 1 Year 5, had the following normal balances: Cash Accounts receivable Supplies Prepaid rent Merchandise inventory K9 $240) Land Accounts payable Salaries payable Common stock Retained earnings $62, 860 20,500 150 2.000 2,260 4,000 980 2.500 50,000 39,190 During Year 5. Pacilio Security Services experienced the following transactions: 1. Paid the salaries payable from Year 4. 2. On January 15, purchased 20 standard alarm systems for cash at a cost of $250 each 3. On February 1, paid the accounts payable of $980, but not within the discount period. The company uses the gross method.) 4. On March 1, leased a business van. Pald $4,800 for one year's lease in advance. 5. Paid $7,200 on May 1 for one year's rent on the office in advance 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. Sales of $22.000 were on account, while $11.000 were cash sales. 10. Record the cost of goods sold related to the sale from Event 9 using the perpetual FIFO method. 11. Mode a full refund to a dissatisfied customer who returned her alarm system. The sale had been a cash sale for $550 with a cost of $260. Record the reversal of revenue 12. Made a full refund to a dissatisfied customer who returned her alarm system. The sale had been a cash sale for $550 with a cost of $260. Record the reversal of cost. 13. Pald installers and other employees a total of $21.000 cash for salaries, 14 Sold $45,000 of monitoring services during the year. The services are billed to the customers each month, 15. Sold an additional monitoring service for $1.200 for one year's service. The customer paid the full amount of $1200 on October 1, 16. Colected $74,000 of accounts recelvable during the year 17. Paid an additional $6,000 to settle some of the accounts payable 18. Paid $3,500 advertising expense during the year 19. Paid $2.320 of utilities expense for the year. 20. Pald a dividend of $15,000 to the shareholders Adjustments 21. There was $200 of supplies on hand at the end of the year 22. Recognized the expired rent from the prior you, van and office building for the year 23. Recognized the revenue earned from transaction 15. 24. Accrued salaries at December 31, Year 5. were $1.000, General Journal Requirem... General Ledger Trial Balance Income Changes in Statement SE Balance Sheet Statement of CF Analysis General Journal tab - Prepare the journal entries to record transactions (1) through (20). Then prepare the necessary adjusting entries (21) through (24) to correctly report net income for the period. Then record the closing entries (25) through (27) as of December 31, Year 5. 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 Changes in Stockholders' Equity tab - Prepare the statement of changes in stockholders' equity for the year ended December 31, Year 5. Balance Sheet tab - Prepare a classified Balance Sheet at December 31, Year 5. Statement of Cash flows - Prepare the statement of cash flow for year ended December 31, Year 5. Analysis tab - Use a horizontal statements model to show how each transaction affects the balance sheet, income statement, and statement of cash flows. General Journal > Requirem.. General Journal General Ledger Trial Balance Income Changes in Statement SE Balance Sheet Statement of CF Analysis Prepare the journal entries to record transactions (1) through (20). Then prepare the necessary adjusting entries (21) through (24) to correctly report net income for the period. Then record the closing entries (25) through (27) as of December 31, Year 5. (If no entry is required for a transaction, select "No journal entry required in the first account field.) Show less View transaction list Journal entry worksheet General Journal Requirem. General Ledger Trial Balance Income Changes in Statement SE Balance Sheet Statement of CF Analysis The ending balance values from the General Ledger tab flows through to the Trial Balance below. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Year 2018 represents Year 5 from the problem statement. Unadjusted Pacitio Security Services, Inc. Trial Balance December 31, 2021 Account Title Credit $ Debit 62,860 20,500 2.160 150 Cash Accounts receivable Merchandise inventory Supplies prepaid rent Land Accounts payable Salaries payable Common stock Retained earnings Total 2,000 4,000 980 1,500 50,000 39,190 91.670 S 91.6705 General General Trial Income Changes in Balance Statement Requirem... Analysis Journal Ledger Balance Statement SE Sheet of CF Choose the appropriate accounts to be reported on the income statement. However, you will need to calculate and enter the amount of the net income or loss for the period. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Pacilio Security Services, Inc. Income Statement For the Year Ended December 31, Yoar 5 Revenues Total Revenues Cost of goods sold Expenses Total Operating Expenses Net Operating Income Statement Requirem... General Journal General Ledger Trial Balance Income Changes in Statement SE Balance Sheet of CF Analysis Prepare the statement of changes in stockholders' equity for the year ended December 31, Year S. You will need to determine and enter the accounts and balances to prepare the Statement of Changes in Stockholders' Equity. Pacilio Security Services, Inc Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 5 Beginning Common Stock Add: Common stock issued Ending Common Stock Beginning Retained Earnings $ 50,000 0 39,190 Ending Retained Earnings Total Stockholders' Equity Requirem... General Journal General Ledger Trial Balance Income Changes in Statement SE Balance Sheet Statement of CF Analysis The balance sheet is the accounting equation: Assets = Liabilities + Equity. Each asset and liability account is reported separately on the balance sheet. Choose the appropriate accounts to be reported on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Pacilio Security Services, Inc. Balance Sheet At December 31, Year 5 Assets Liabilities Stockholders' Equity 39,190 Requirem... General Journal General Ledger Trial Balance Income Statement Changes in SE Balance Sheet Statement of CF Analysis Indicate whether the transaction increases (+), decreases (-), or increases and decreases (+/-) for each element of the financial statements. Also, in the Cash Flow column, use the letters OA to designate operating activity, IA for investing activity, FA for financing activity. The first transaction is recorded as an example. Pacilio Security Services, Inc. Effect of Transactions on Financial Statements - Year 5 Balance Sheet Income Statement Net = Liabilities + S. Equity Revenue Expenses Income Statement of Cash Flows Transaction Assets OA 1. 2. 3 5. 6. 7 B. 9. 10 11 12 13 14 15 16 17. 18. 19. 20 21 22 23 24. Statement of CF AI