any advice on what im missing is appreciated.
Vanishing Games Corporation VGC operates a massively multiplayer online game, charging players a monthly subscription of $ At the start of January VGCs income statement accounts had zero balances and its balance sheet account balances were as follows:
Cash $
Accounts Receivable
Supplies
Equipment
Buildings
Land
Accounts Payable
Deferred Revenue
Notes Payable due
Common Stock
Retained Earnings
In addition to the above accounts, VGCs chart of accounts includes the following: Service Revenue, Salaries and Wages Expense, Advertising Expense, and Utilities Expense. The following transactions occurred during the January month:
Received $ cash from customers on for subscriptions that had already been earned and charged on account in
Purchased new computer servers for $ on ; paid $ cash and signed a threeyear note for the remainder owed.
Paid $ for an Internet advertisement that ran today on
On January purchased and received $ of supplies on account.
Received $ cash on from customers for service revenue earned but not previously recorded in January.
On January paid $ cash for supplies purchased on January
On January sold subscriptions at $ each for services provided during January. Half was collected in cash and half was sold on account.
Paid $ in wages to employees on for work done in January.
On January received an electric and gas utility bill for $ for January utility services. The bill will be paid in February.
Enter the beginning balances shown above in the following Taccounts and post the journal entries.
