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Chapter 04 (Static) Comprehensive Problem The trial balance of Pacilio Security Services, Incorporated as of January 1, Year 4, had the following normal balances. In Year 4, Pacilio Security Services decided to expand its business to sell security systems and offer 24 -hour alarm monitoring services: It plans to phase out its current service of providing security personnel at various events. The following summary transactions occurred during Year 4: 1. Paid the salaries payable from Year 3. 2. Acquired an additional $42,000 cash from the issue of common stock. 3. Rented a larger building on May 1 ; paid $6,000 for 12 months' rent in advence. 4. Paid $800 cash for supplies to be used over the next several months by the business. 5. Purchased alarm systems for fesale at a cost of $12,000. The alarm systems were purchased on account with the terms 2/10, n/30. 6. Returned alarm systems that had a cont of $240. 7. Installed atarm systems during the year for a total sales amount of $20,000. Sales of $15,000 were on account, while $5,000 were cash sales. 8. The cost of the systems sold in Event 7 amounted to $99.440. 9. Paid the installers and other employees a total of $9,500 in salaries 10. Sold $36,000 of monitoring services for the year. The services are billed to the customers each pionth. 11. Paid cast on accounts payable. The payment was made before the discount period expired. At the time of purchase, the inventory has a cost of $8,000. has a cost of $8.000 12. Paid eash to settle addfional accounts poyable in the amount of $2,780. The payment was made after the discount period expired. 13. Collected $43,000 of accounts recelvable during the year, 14. Performed $12,000 of security services for area events; $9,000 was on account and $3,000 was for cash. 15. Paid advertising cost of $1,620 for the yoar. 16. Paid $1,100 for intaics expense for the year. 17. Pald a dividend of $12,000 to the shareholders. Adfustment information 18. Supplies of $150 were on hand at the end of the year. 19. Recognized the expired rent for the year. 20. Recognized the balance of the unearned revenue; cash was recelved in Year 3 21. Accrued satiories at December 3t, Year 4, were $1,500. Frepare the journat entries to record transactians (1) through (17). Then prepare the necessary abjusting entries (18) through (21) to carrectly report net income for the period: Then record the closing entries (22) through (24) as of December 31 , Year 4 . (If no ent Y it Journal entry worksheet General Ledger Account statement. Unadjusted PACILIO SECURITY SERVICES, INCORPORATED Trial Balance December 20, 2023 General Ledger Income statement account, based on your selection. Unadiusted Unadjusted Trial Balanes Changes in 8E Prepare the statement of changes in stockholders' equity for the year ended December 31, Year 4. You will need to determine and enter the accounts and balances to prepare the Statement of Chnges in Stockholders' Equity. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Balance sheet Analyele Prey 1 of 1 :t: Next