The trial balance of Pacilio Security Services, Inc. as of January 1, Year 5, had the following normal balances: 6. $62,860 20,500 150 Cash Accounts receivable Supplies Prepaid rent Merchandise inventory (9 @ $240) Land Accounts payable Salaries payable Common stock Retained earnings 2,000 2,160 4,000 980 1,500 50,000 39,190 ped During Year 5, Pacilio Security Services experienced the following transactions: 1. Paid the salaries payable from Year 4. 2. On January 15, purchased 20 standard alarm systems for cash at a cost of $250 each. 3. On February 1, paid the accounts payable of $980, but not within the discount period. (The company uses the gr 4. On 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 with 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. On September 5, purchased on account 30 standard alarm systems at a cost of $265. on account while $11000 were cash s
The trial balance of Pacilio Security Services, Inc. as of January 1, Year 5, had the following normal balances: 6. $62,860 20,500 150 Cash Accounts receivable Supplies Prepaid rent Merchandise inventory (9 @ $240) Land Accounts payable Salaries payable Common stock Retained earnings 2,000 2,160 4,000 980 1,500 50,000 39,190 ped During Year 5, Pacilio Security Services experienced the following transactions: 1. Paid the salaries payable from Year 4. 2. On January 15, purchased 20 standard alarm systems for cash at a cost of $250 each. 3. On February 1, paid the accounts payable of $980, but not within the discount period. (The company uses the gr 4. On 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 with 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. On September 5, purchased on account 30 standard alarm systems at a cost of $265. on account while $11000 were cash s
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter3: Basic Accounting Systems: Accrual Basis
Section: Chapter Questions
Problem 3.6.1P: Adjustment process and financial statements Adjustment data for Ms. Ellen’s Laundry Inc. for the...
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