Question: Can you please help with a general journal, balance sheet , changes in stockholders equity, statement of cash flows, and the analysis The trail balance
Can you please help with a general journal, balance sheet changes in stockholders equity, statement of cash flows, and the analysis
The trail balance of Pacilio security services incorporated as of January year had the following normal balances
Cash
Petty cash
Accounts receiveable
Allowance for doubtful accounts
Supplies
Prepaid rent
Merchandise inventory @$
Equipment
Van
Accumulated depreciation
Salaries payable
Common stock
Retained earnings
During Year Pacilio Security Services experienced the following transactions
Paid the salaries payable from Year
Paid $ on May Year for one year's office rent in advance
Purchased $ of supplies on account
Purchased alarm systems at a cost of $ each Paid cash for the purchase
After numerous attempts to collect from customer's wrote off of uncollectible accounts receivable
Sold alarm systems for $ each plus sales tax of percent All sales were on account.
Record cost of good sold for the sales transaction mentioned in previous transactionnumber Be sure compute cost of sold using the FIFO cost flow method
Billed $ of monitoring services for the year. Credit card sales amounted to $ and the credit card company charged a fee. The remaining $ were sales on account. Sales tax is not charged on this service.
Replenished the petty cash fund on June The fund had $ cash and has receipts of $ for yard mowing.$ for office supplies expense and $ for miscellaneous expenses.
Collected the amount due to the credit card company
Paid the sales tax collected on $ of the alarm sales.
Paid installers and other employees a total of $ for the salaries for the year. Assume the social security tax is percent and the medicare tax rate is percent Federal income tax withheld amounted to $ Cash was paid for the net amount of salaries due.
Pacilio now offers a one year warranty on its alarm systems Paid in warranty repairs during the year
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
