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Requirement Trial Balance Statement Analysis Journal Ledger SE Sheet of CF The ending balance values from the General Ledger tab flows through to the Trial Balance below. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Year 2018 represents Year 3 from the problem statement. Adjusted Pacilio Security Services, Inc. Trial Balance December 31, 2021 Account Title Debit Credit 8,900 1,500 Cash Accounts receivable 65 Supplies

Requirement Trial Balance Statement Analysis Journal Ledger SE Sheet of CF The ending balance values from the General Ledger tab flows through to the Trial Balance below. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Year 2018 represents Year 3 from the problem statement. Adjusted Pacilio Security Services, Inc. Trial Balance December 31, 2021 Account Title Debit Credit 8,900 1,500 Cash Accounts receivable 65 Supplies

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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General General Income Balance Statement Changes in SE Requirement Trial Balance Analysis Journal Ledger Statement Sheet of CF The ending balance values from the General Ledger tab flows through to the Trial Balance below. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Year 2018 represents Year 3 from the problem statement. Adjusted Pacillo Security Services, Inc. Trial Balance December 31, 2021 Account Title Debit Credit $ 8,900 Cash Accounts receivable 1,500 65 Supplies Prepaid rent 800 4,000 Land 1,050 Accounts payable 1,200 Salaries payable 200 Unearned revenue 2,000 Notes payable 8,000 Common stock 2,815 Retained earnings $ 15,265 $ 15,265 Total
Transcribed Image Text:General General Income Balance Statement Changes in SE Requirement Trial Balance Analysis Journal Ledger Statement Sheet of CF The ending balance values from the General Ledger tab flows through to the Trial Balance below. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Year 2018 represents Year 3 from the problem statement. Adjusted Pacillo Security Services, Inc. Trial Balance December 31, 2021 Account Title Debit Credit $ 8,900 Cash Accounts receivable 1,500 65 Supplies Prepaid rent 800 4,000 Land 1,050 Accounts payable 1,200 Salaries payable 200 Unearned revenue 2,000 Notes payable 8,000 Common stock 2,815 Retained earnings $ 15,265 $ 15,265 Total
The trial balance of Pacilio Security Services, Inc. as of January 1, Year 3, had the following normal balances: $8,900 1,500 65 800 Cash Accounts Receivable Supplies Prepaid Rent Land Accounts Payable Unearned Revenue Salaries Payable Notes Payable Common Stock Retained Earnings oped 4,000 1,050 200 1,200 2,000 8,000 2,815 During Year 3, Pacilio Security Services experienced the following transactions: 1. Paid the salaries payable from Year 2. 2. Paid the balance of $2,000 on the debt owed to the SmalI Business Government Agency. The loan is interest-free. 3. Performed $32,000 of security services for numerous local events during the year; $21,000 was on account and $11,000 was for cash. 4. On May 1, paid $3,000 for 12 months' rent in advance. 5. Purchased supplies on account for $70o. 6. Paid salaries expense for the year of $9,000. 7. Incurred other operating expenses on acdount, $4,200. 8. On October 1, Year 3, a customer paid $1,200 for services to be provided over the next 12 months. 9. Collected $19,000 of accounts receivable during the year. 10. Paid $5,950 on accounts payable. 11. Paid $1,800 of advertising expenses for the year. 12. Paid a cash dividend to the shareholders of $4,650. 13. The market value of the land was determined to be $5,500 at December 31, Year 3. Adjustments 14. There was $120 of supplies on hand at the end of the year. 15. Recognized the expired rent. 16. Recognized the earned revenue from Year 2 and transaction no. 8. 17. Accrued salaries were $1,000 at December 31, Year 3.
Transcribed Image Text:The trial balance of Pacilio Security Services, Inc. as of January 1, Year 3, had the following normal balances: $8,900 1,500 65 800 Cash Accounts Receivable Supplies Prepaid Rent Land Accounts Payable Unearned Revenue Salaries Payable Notes Payable Common Stock Retained Earnings oped 4,000 1,050 200 1,200 2,000 8,000 2,815 During Year 3, Pacilio Security Services experienced the following transactions: 1. Paid the salaries payable from Year 2. 2. Paid the balance of $2,000 on the debt owed to the SmalI Business Government Agency. The loan is interest-free. 3. Performed $32,000 of security services for numerous local events during the year; $21,000 was on account and $11,000 was for cash. 4. On May 1, paid $3,000 for 12 months' rent in advance. 5. Purchased supplies on account for $70o. 6. Paid salaries expense for the year of $9,000. 7. Incurred other operating expenses on acdount, $4,200. 8. On October 1, Year 3, a customer paid $1,200 for services to be provided over the next 12 months. 9. Collected $19,000 of accounts receivable during the year. 10. Paid $5,950 on accounts payable. 11. Paid $1,800 of advertising expenses for the year. 12. Paid a cash dividend to the shareholders of $4,650. 13. The market value of the land was determined to be $5,500 at December 31, Year 3. Adjustments 14. There was $120 of supplies on hand at the end of the year. 15. Recognized the expired rent. 16. Recognized the earned revenue from Year 2 and transaction no. 8. 17. Accrued salaries were $1,000 at December 31, Year 3.
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