Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $15. At the start of January 2021, VGCs income statement accounts had zero balances and its balance sheet account balances were as follows:

Cash $ 2,220,000

Accounts Receivable 225,000

Supplies 20,600

Equipment 919,000

Buildings 479,000

Land 1,770,000

Accounts Payable 117,000

Deferred Revenue 109,000

Notes Payable (due 2025) 132,000

Common Stock 2,500,000

Retained Earnings 2,775,600

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 January transactions are shown below:

Received $51,250 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 $38,800 on 1/2; paid $18,000 cash and signed a three-year note for the remainder owed.

Paid $18,400 for an Internet advertisement run on 1/3.

On January 4, purchased and received $3,800 of supplies on account.

Received $200,000 cash on 1/5 from customers for service revenue earned in January.

Paid $3,800 cash to a supplier on January 6.

On January 7, sold 10,300 subscriptions at $15 each for services provided during January. Half was collected in cash and half was sold on account.

Paid $320,000 in wages to employees on 1/30 for work done in January.

On January 31, received an electric and gas utility bill for $6,070 for January utility services. The bill will be paid in February.

General Journal tab - Prepare the journal entries to record the transactions (a) through (i). Review the accounts as shown in the General Ledger and Trial Balance tabs.

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 Retained Earnings tab - Prepare the statement of retained earnings for the month ended January 31, 2021. If there are no dividends, include a line that reports Dividends of zero.

Balance Sheet tab - Prepare a classified Balance Sheet at January 31, 2021.

Analysis tab - Calculate net profit margin, expressed as a percent.

Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $15. At the start of January 2021, VGC's Income statement accounts had zero balances and its balance sheet account balances were as follows: Cash $ 2,220,000 Accounts Receivable 225,000 Supplies 20,600 Equipment 919,000 Buildings 479,000 Land 1,770,000 Accounts Payable 117,000 Deferred Revenue 109,000 Notes Payable (due 2025) 132,000 Common Stock 2,500,000 Retained Earnings 2,775,600 In addition to the above accounts, VGC's chart of accounts includes the following: Service Revenue, Salaries and Wages Expense, Advertising Expense, and Utilities Expense. The January transactions are shown below: a. Received $51,250 cash from customers on Vi for subscriptions that had already been earned and charged on account in 2020. b. Purchased 10 new computer servers for $38,800 on 1/2; paid $18,000 cash and signed a three-year note for the remainder owed. c. Pald $18,400 for an Internet advertisement run on 13. d. On January 4, purchased and received $3,800 of supplies on account. e. Received $200,000 cash on 15 from customers for service revenue earned in January f. Paid $3,800 cash to a supplier on January 6. g. On January 7, sold 10,300 subscriptions at $15 each for services provided during January. Half was collected in cash and half was sold on account n. Paid $320,000 in wages to employees on 1/30 for work done in January, d. On January 4, purchased and received $3,800 of supplies on account e. Received $200,000 cash on 1/5 from customers for service revenue earned in January f. Pald $3,800 cash to a supplier on January 6. 9. On January 7, sold 10,300 subscriptions at $15 each for services provided during January. Half was collected in cash and half was sold on account h. Paid $320,000 in wages to employees on 1/30 for work done in January. 1. On January 31, received an electric and gas utility bill for $6,070 for January utility services. The bill will be paid in February General General Income Requirement Stmt of Retained Trial Balance Balance Sheet Journal Analysis Ledger Statement Earnings General Journal tab. Prepare the journal entries to record the transactions () through (1). Review the accounts as shown in the General Ledger and Trial Balance tabs. 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 Retained Earnings tab - Prepare the statement of retained earnings for the month ended January 31, 2021. If there are no dividends, include a line that reports Dividends of zero. Balance Sheet tab - Prepare a classified Balance Sheet at January 31, 2021. Analysis tab - Calculate net profit margin, expressed as a percent. Roquirement General Journal > View transaction list Journal entry worksheet Purchased 10 new computer servers for $38,800 on 1/2; paid $18,000 cash and signed a three-year note for the remainder owed. Record the transaction. Note: Enter debits before credits General Journal Debit Credit Date January 02 Record entry Clear entry View general Journal Journal entry worksheet Paid $18,400 for an Internet advertisement run on 1/3. Record the transaction. Note: Enter debits before credits. General Journal Debit Credit Date January 03 Record entry Clear entry View general journal Journal entry worksheet Received $200,000 cash on 1/5 from customers for service revenue earned in January. Record the transaction. Note: Enter debits before credits. General Journal Debit Credit Date January 05 Record entry Clear entry View general journal Journal entry worksheet 2 3 4 5 6 7 8 9 On January 7, sold 10,300 subscriptions at $15 each for services provided during January. Half was collected in cash and half was sold on account. Record the transaction. Note: Enter debits before credits. General Journal Debit Credit Date January 07 Record entry Clear entry View general Journal Journal entry worksheet Paid $320,000 in wages to employees on 1/30 for work done in January Record the transaction. Note: Enter debits before credits. General Journal Debit Credit Date January 30 Record entry Clear entry View general journal Journal entry worksheet JUVE Credit General General Income Requirement Trial Balance Balance Sheet Journal Ledger Retained Analysis Statement Earnings The ending balance values from the General Ledger tab flows through to the Trial Balance below. VANISHING GAMES CORPORATION Trial Balance January 31, 2021 Account Title Debit Cash $ 2 220,000 Accounts Receivable 225,000 Supplies 20 600 Land 1,770,000 Buildings 479.000 Equipment 919,000 Accounts Payable Deferred Revenue Notes Payable (long-term) Common Stock Retained Earnings Total $ 5,633,600 $ 2 2 2 2 2 117.000 109,000 132,000 2,500,000 2,775,600 5,633,600 Stmt of General General Income Requirement Trial Balance Retained Balance Sheet Analysis Journal Ledger Statement Earnings 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. VANISHING GAMES CORPORATION Income Statement For the Month Ended January 31, 2021 Balance Sheet Stmt of General General Requirement Income Journal Ledger Trial Balance Analysis Retained Statement Earnings Prepare the statement of retained earnings for the month ended January 31, 2018. You will need to determine and enter the accounts and balances to prepare the Statement of Retained Earnings. If there are no dividends, include a line that reports Dividends of zero. VANISHING GAMES CORPORATION Statement of Retained Earnings For the Month Ended January 31, 2021 Retained Earings, January 1, 2021 Retained Earnings, January 31, 2021 Income Statement Balance Sheet > General Income Stmt of Requirement General Trial Balance Retained Analysis Journal Ledger Balance Sheet Statement Earnings Use the dropdowns to select the accounts properly included on the classified balance sheet. You will need to determine and enter the balance of the Common Stock and Retained Earnings accounts in the Stockholders' Equity section. VANISHING GAMES CORPORATION Balance Sheet At January 31, 2021 Balance Sheet Analysis General Income Stmt of Requirement General Trial Balance Retained Journal Ledger Statement Earnings Calculate net profit margin, expressed as a percent. (Round your answer to 1 decimal place.) Net Profit Margin