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Vanishing Games Corporations operates a massively multiplayer online game, charging players a monthly subscription of...

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Accounting

Vanishing Games Corporations operates a massively multiplayer online game, charging players a monthly subscription of $15. At the start of Jan 2018, VGC's income accounts had zero balances and its balance sheet account balances were as follows:imageimageimage

Vanishing Games Corporation (VGC) operates a massively multiplayer online game, charging players a monthly subscription of S15. At the start of January 2018, VGC's income statement accounts had zero balances and its balance sheet account balances were as follows: Cash $1,500,000 Accounts Payable 150,000 Deferred Revenue Accounts Receivable Supplies Equipment Buildings Land 14,700 874,500 422,000 1,200,000 $108,000 73,500 60,000 2,500,000 1,419,700 Notes Payable (due 2025) Common Stock Retained Earnings In addition to the above accounts, VGC's chart of accounts includes the following: Service Revenue, Salaries and Wages Expense, Advertising Expense, and Utilities Expense

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