The trial balance of Pacilio Security Services, Inc. as of January 1. Year 6, had the following normal balances: Cash Accounts Receivable Supplies Prepaid Rent Merchandise Inventory (24 $265; 1 e $260) Land Accounts Payable Unearned Revenue Salaries Payable Common Stock Retained Earnings $ 74,210 13,500 200 3,200 6,620 4,000 1,950 900 1,000 50,000 47,880 During Year 6, Pocillo Security Services experienced the following transactions: 1. Paid the salaries payable from Year 5. 2. On March 1, Year 6. Pacillo established a $100 petty cash fund to handle small expenditures. 3. Paid $4,800 on March 1, Year 6. for a one-year lease ch the company van in advance. 4. Paid $7,200 on May 2, Year 6. for one year's office rent in advance. 5. Purchased $400 of supplies on account 6. Purchased 100 alarm systems for $28,000 cash during the year. 7. Sold 102 alarm systems for $57,120. All sales were on account 8. Record the cost of goods sold related to the sole from Event 7 using the FIFO method. 9. Pald $2,100 on accounts payable during the year 10. Replenished the petty cash fund on August 1. At this time, the petty cash fund had only $7 of currency left. It contained the following receipts office supplies expense, $23. cutting grass, $55; and miscellaneous expense, $14. 11. Billed $52,000 of monitoring services for the year 12. Pald installers and other employees a total of $25,000 cash for salaries, 13. Collected $89,300 of accounts receivable during the year. 14. Paid $3,600 of advertising expense during the year. 15. Paid $2,500 of utilities expense for the year. 16. Paid a dividend of $10,000 to the shareholders. Adjustment 17. There was $160 of supplies on hand at the end of the year. 18. Recognized the expired rent for both the van and the office building for the year. (The rent for both the van and the office remained the same for Year 5 and Year 6.) 19. Recognized the balance of the revenue earned in Year 6 where cash had been collected in Year 5. 20. Accrued salaries at December 31, Year 6 were $1,400. The following information is available for the bank reconciliation: (1) Checks written but not paid by the bank, $8,350, (2) A deposit of $6,500 made on December 31, Year 6, had been recorded but was not shown on the bank statement (3) A debit memo for $55 for a new supply of checks. (Hint: Use Office Supplies Expense account) (4) A credit memo for $30 for interest earned on the checking account (5) An NSF check for $120. (6) The balance shown on the bank statement was $80,822 Journal entry worksheet HRER Paid the salaries payable from Year 5. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Prey 1 of Next Pacilio Security Services, Inc. Income Statement For the Year Ended December 31, Year 6 Revenues Total Revenues Expenses Total Operating Expenses Net Operating Income Non-Operating Items Unadjusted Pacilio Security Services, Inc. Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 6 Beginning Common Stock Add: Common stock issued Ending Common Stock Beginning Retained Earnings $ 47,880 + 47,880 Ending Retained Earnings Total Stockholders' Equity Pacilio Security Services, Inc. Balance Sheet At December 31, Year 6 Assets Liabilities Liabilities Stockholders' Equity Pacilio Security Services, Inc. Statement of Cash Flows For the Year Ended December 31, Year 6 Cash flows from operating activities: Net cash flow from operating activities Cash flows from investing activities: Net cash flows from investing activities: Cash flows from financing activities: Net cash flow from financing activities Ending Cash Balance including petty cash Pacilio Security Services Bank Reconciliation December 31, Year 6 Unadjusted Bank Balance, 12/31/Year 6 True Cash Balance, 12/31/Year 6 Unadjusted Book Balance, 12/31/Year 6 True Cash Balance, 12/31/Year 6 FOURVIVO ver VIVO Effect of Transactions on Financial Statements - Year 6 Balance Sheet Income Statement Net = Liabilities + S. Equity Revenue Expenses = Income Statement of Cash Flows Transaction Assets OA 1. 2 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20.