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 $268) Land Accounts Payable Unearned Revenue Salaries Payable Common Stock Retained Earning $74,210 13,500 200 3,200 6,620 4,000 1,950 900 1,000 50,000 47,580 During Year 6. Pacilio Security Services experienced the following transactions 1. Paid the salaries payable from Year 5 2 On March 1 Year 6. Pacifio established a $100 petty cash fund to handle small expenditures 3. Paid $4800 on March 1, Year 6, for a one-year lease on 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 $57120. All sales were on account 8. Record the cost of goods sold related to the sale from Event 7 using the FIFO method. 9. Paid $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, 514) 11. Billed $52,000 of monitoring services for the year 12 Paid 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 S160 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 eamed in Year 6 where cash had been collected in Year 5. 20. Accrued salaries at December 31 Year 6, were $1,400 Prey Next holders 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, 88,350 (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 BRS General General Requirement Income Changes in Balance Statement Journal Trial Balance Ledger Statement SE Sheet of CF Analysis General Journal tab - Prepare the journal entries to record transactions (1) through (16). Then prepare the necessary adjusting entries (17) through (22) to correctly report niet income for the period. Then record the closing entries (23) through (25) as of December 31, Year 6. 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 6. Balance sheet tab. Prepare a classified Balance Sheet at December 31, Year 6. Statement of cash flows - Prepare the statement of cash flow for year ended December 31, Year 6. Bank Reconciliation tab - Prepare a bank reconciliation at the end of the year. Analysis tab - Use a horizontal statements model to show how each transaction affects the balance sheet, income statement, and statement of cash nows. General Journal > Prepare the journal entries to record transactions (1) through (16). Then prepare the necessary adj correctly report net income for the period. Then record the closing entries (23) through (25) as of required for a transaction, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Journal entry worksheet correctly report net income for the period. Then record the closing entries (23) through (25) required for a transaction, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet View transaction list Journal entry worksheet A Paid $7,200 on May 2, Year 6, for one year's office rent in advance. Note: Enter debits before credits Date May 02 General Journal Debit Credit Record entry Clear entry View general journal Prey Journal entry worksheet A Purchased $400 of supplies on account. Note: Enter debits before credits. Date Dec 31 General Journal Debit Credit Record entry Clear entry View general journal Prey search HL View transaction list Journal entry worksheet Prey View transaction list Journal entry worksheet Record the cost of goods sold related to the sale from Event 7 using the FIFO method. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Journal entry worksheet Paid $2,100 on accounts payable during the year. Note: Enter debits before credits Date Dec 31 General Journal Debit Credit Record entry Clear entry View general journal Prey Journal entry worksheet 1 ..... 5 6 7 GO 8 9 10 25 > 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. Note: Enter debits before credits. General Journal Date Aug 01 Debit Credit Record entry Clear entry View general journal Prey Journal entry worksheet Prey Journal entry worksheet Paid installers and other employees a total of $25,000 cash for salaries. Note: Enter debits before credits General Journal Date Dec 31 Debit Credit Record entry Clear entry View general journal Journal entry worksheet Collected $89,300 of accounts receivable during the year. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Prey Journal entry worksheet Paid $3,600 of advertising expense during the year. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Prey Journal entry worksheet Paid $2,500 of utilities expense for the year. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Journal entry worksheet Prey Journal entry worksheet There was $160 of supplies on hand at the end of the year. Prepare the adjusting journal entry, if necessary. Note: Enter debits before credits Date Dec 31 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet Prey Journal entry worksheet 1 14 15 16 17 18 19 25 > Recognized the balance of the revenue earned in Year 6 where cash had been collected in Year 5. Prepare the adjusting journal entry, if necessary. Note: Enter debits before credits. General Journal Date Dec 31 Debit Credit Record entry Clear entry View general journal Prey View transaction list Journal entry worksheet Accrued salaries at December 31, Year 6, were $1,400. Prepare the adjusting journal entry, if necessary. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Prey View transaction list Journal entry worksheet Record the journal entry for the bank reconciliation for the debit memos or checks not included on the books, if necessary. Note: Enter debits before credits. General Journal Date Dec 31 Debit Credit Record entry Clear entry View general journal Piey Journal entry worksheet Journal entry worksheet N Record the closing entry for the revenue accounts. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Journal entry worksheet N Record the closing entry for the expense accounts. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 Pre Journal entry worksheet 1 18 19 20 21 22 23 24 25 > Record the closing entry for dividends account. Note: Enter debits before credits. General Journal Debit Credit Date Dec 31 Record entry Clear entry View general Journal Each journal entry is posted automatically to the general ledger. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted General Ledger Account Cash Accounts receivable No. Date Jan 01 Debit Credit No. Balance 74210 Debit Credit Date Jan 01 Balance 13 500 Merchandise inventory Debit Credit No. Date Jan 01 Supplies Debit No. Balance 6,620 Date Jan 01 Credit Balance 200 Prepaid rent Debit Land No. Date Jan 01 Credit No. Balance 3,200 Date Jan 01 Debit Credit Balance 4,000 No. Accounts payable Debit Credit Date Jan 01 Balance 1.950 Salaries payable Debit Credit No. Date Jan 01 Balance 1.000 Uneamed revenue Debit Credit No. Date Jan 01 Common stock Debit Credit No. Balance 900 Date Jan 01 Balance 50,000 Retained earnings Debit Credit No. Date Jan 01 Balance 47 880 (General Journal Trial Balance > Prey 1 of 1 Ne To search HA B? Requirement General General Income Trial Balance Changes in Balance Statement Journal Ledger Statement SE Sheet of CF BRS 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 4 from the problem statement Unadjusted Pacilio Security Services, Inc. Trial Balance December 31, 2021 Account Title Debit Credit 22 74,210 13,500 6,620 200 3.200 4,000 Cash Accounts receivable Merchandise inventory Supplies Prepaid rent Land Accounts payable Salaries payable Unearned revenue Common stock Retained earnings Total 2 1.950 1.000 900 A 50,000 47,880 101.730 101.730 $ account, based on your selection. period. The unadjusted, adjusted, or post- Unadjusted I Pacilio Security Services, Inc. Income Statement For the Year Ended December 31, Year 6 ok Revenues ht Total Revenues ces Expenses Total Operating Expenses Net Operating Income Non-Operating Items Requirement General Journal General Ledger Trial Balance Income Statement Changes in SE Balance Sheet Statement of CF BRS Prepare the statement of changes in stockholders' equity for the year ended December 31, Year 6. You will n and enter the accounts and balances to prepare the Statement of Changes in Stockholders' Equity. The unadji or post-closing balances will appear for each account, based on your selection. 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 Prey 1 opria accounts to be reported on the bala 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 6 Assets es 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 N 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 (6) The balance shown on the bank statement was $80,822 BRS General Requirement General Income Trial Balance Changes in Balance Journal Statement Ledger Statement SE Sheet of CF Prepare a bank reconciliation at the end of the year. (Amounts to be deducted should be indicated with a minus 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 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 6 Balance Sheet Income Statement Statement of Cash Net Transaction Assets Liabilities - S. Equity Revenue Expenses Flows Income 1 2 A 3 4 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20