The trial balance of Pacitio Security Services, Inc. as of January 1 Year 2, was as follows Cash Land Notes Payable Common Stock Retained Earnings $ 8,500 4,000 5,000 6.000 1,500 During Year 2. Pacilio Security Services experienced the following transactions: Acquired an additional $2,000 from the issue of common stock 2. Paid $3,000 on the debt owed to the Small Business Government Agency The loan is interest free 3. Performed $21,000 of security services for numerous focal events during the year $15,000 was on account and $6.000 was cash. 4. On May 1, rented a small office building Pald $2,400 for 12 months' rent in advance 5. Purchased supplies on account for $650 6. Paid salaries expense for the year of $8.000 7. Incurred other operating expenses on account , $6,200 8. On September 1 Year 2. a customer paid $600 for services to be provided over the next six months 9. Collected $13,500 of accounts receivable during the year 10. Paid $5,800 on accounts payable 11. Paid $1500 of advertising expenses for the year 12. Paid a cash dividend to the shareholders of $1.000 13. The market value of the land was determined to be $5.000 at December 31, Year 2. Information for Adjustments 14. There was $65 of supplies on hand at the end of the year 15. Recognized the expired rent 16. Recognized the revenue eamed from Transaction & 17. Accrued salaries were $1.200 at December 31. Year 2 Required - Record the above transactions in an accounting equation Provide the appropriate account titles for the amounts shown in the Retained Earnings column b. Prepare an income statement statement of changes in stockholders' equity balance sheet and statement of cash flows for Year 2 Complete this questo by etc Required Required red Sint Sunt of Cast holders Sheet To Record the above transactions in an accounting equation Provide the propriate account titles for the amounts shown in the Retained Earnings colume (Entrycreases to account balance CLIO SECURITY SLIVICES, NC Accountingut for You A Thuid Acco Salaries Com Account This Rant Land Vayable Deven Payable 3.500 . 4000 0 5000 - 6000 1500 1 2.000 . o 0 - 2.000 1000+ al + 0 0.000 o 6000 ol 15.000 ol ol 21.000 2.400 12400 ol ol 5 6 7 - . . O I O + ol 0 . - + 0 9 + 10 13 13 14 -15 + + + 2000 400 2.400 15.000 11 Complete this question by entering your answers in the tabs Required B Stmt of Cash Flows Required B Required B Inc Required A Required B Bal Stmt Stmt Sheet Stkholders Eq Prepare an income statement for Year 2. PACILIO SECURITY SERVICES, INC. Income Statement For the Year Ended December 31, Year 2 Expenses 0 Total expenses 0
