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Required information C3-1 (Algo) Analyzing, Recording, and Posting, and Preparing and Evaluating Financial Statements...

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Required information C3-1 (Algo) Analyzing, Recording, and Posting, and Preparing and Evaluating Financial Statements (Chapters 1-3) [LO 3-2, LO 3-3, LO 3-4, LO 3-5] Skip to question [The following information applies to the questions displayed below.] Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of $14. At the start of January 2021, VGCs income statement accounts had zero balances and its balance sheet account balances were as follows: Cash $ 1,720,000 Accounts Receivable 230,000 Supplies 21,800 Equipment 892,000 Buildings 485,000 Land 2,100,000 Accounts Payable 180,000 Deferred Revenue 119,000 Notes Payable (due 2025) 128,000 Common Stock 3,000,000 Retained Earnings 2,021,80

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