Answer full question please. ### Trial Balance and Transactions of Pacillo Security Services, Inc.#### Trial Balance as of January 1, Year 5| Account | Amount ||--------------------------|----------|| Cash | $62,860 || Accounts Receivable | $20,500 || Supplies | $150 || Prepaid Rent | $2,200 || Merchandise Inventory (9 @ $240) | $2,160 || Land | $48,000 || Accounts Payable | $4,800 || Salaries Payable | $1,500 || Common Stock | $50,000 || Retained Earnings | $39,190 |#### Transactions During Year 51. **Paid the salaries payable from Year 4.**2. **January 15:** Purchased 20 standard alarm systems for cash at a cost of $250 each.3. **February 1:** Paid the accounts payable of $980, but not within the discount period.4. **March 1:** Leased a business van; Paid $4,800 for one year’s lease in advance.5. Paid $7,200 on May 1 for one year's rent on the office in advance.6. Purchased cash $500 of supplies to be used over the next several months by the business.7. Purchased with cash another 25 alarm systems on August 1 for resale at a cost of $260 each.8. **September 5:** Purchased on account 30 standard alarm systems at a cost of $265 each.9. Installed 60 standard alarm systems for $33,000. Sales of $22,000 were on account, while $11,000 were cash sales.10. Record the cost of goods sold related to the sale from Event 9 using the perpetual FIFO method.11. Made a full refund to a dissatisfied customer who returned her alarm system. The sale had been a cash sale for $550 with a cost of $260. **Record the reversal of revenue.**12. Made a full refund to a dissatisfied customer who returned her alarm system. The sale had been a cash sale for $550 with a cost of $260. **Record the reversal of cost.**13. Paid installers and other employees a total of $21,000 cash for salaries.14. Installed 50 advanced alarm systems for $43 This document is a template for tracking the effects of various transactions on the financial statements of a company named Pacilio Security Services, Inc. The table is designed to record the impact of transactions during Year 5.The table includes several columns, each representing a different aspect of the company's financial statements:1. **Transaction**: This column is numbered from 1 to 24, indicating multiple transactions to be recorded.2. **Balance Sheet**: This section is subdivided into three columns: - **Assets**: Tracks changes in the company's assets. - **Liabilities**: Tracks changes in the company's liabilities. - **Stockholders’ Equity (S. Equity)**: Tracks changes in the stockholders’ equity.3. **Income Statement**: This section is subdivided into four columns: - **Revenue**: Tracks the company's revenue from transactions. - **Expenses**: Tracks the company’s expenses related to transactions. - **Net Income**: Records net income resulting from the revenue and expenses of transactions.4. **Statement of Cash Flows**: This section has a single column: - **OA (Operating Activity)**: Indicates the type of cash flow from operating activities related to each transaction.Each row represents a unique transaction and the corresponding changes in the mentioned financial categories. The table currently is mostly empty, suggesting it is ready to be filled as transactions occur during Year 5.This format can help students or professionals understand how various transactions impact a company's balance sheet, income statement, and cash flow statement.

The basic Accounting Equation is Assets = Equity + Liabilities Assets are the resources owned by…

Pacilio Security Services, Inc. Effect of Transactions on Financial Statements - Year 5 Balance Sheet Income Statement Statement of Cash Net Assets = Liabilities + S. Equity Revenue Transaction Expenses = Flows Income 1. OA 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15.

Pacilio Security Services, Inc. Effect of Transactions on Financial Statements - Year 5 Balance Sheet Income Statement Statement of Cash Net Assets = Liabilities + S. Equity Revenue Transaction Expenses = Flows Income 1. OA 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Can you please explain more about the alternatives?
only answer d now please
Can you share an example and explainwhy the CVP is important please.
Discuss your insights about the FMEA
Can someone help me with the part b and c please?
Please help with the attchement below ?
Please provide the introductory part and answer for question D.
Use the information in the following table to answer the questions below
explain the fill answer
How does someone set up an RRSP account? What is an RRSP
Explain prospectus
Hh1.