The following transactions pertain to Sky Training Company for 2011.

Required

a. Record the preceding transactions in the general journal.

b. Post the transactions to T-accounts and calculate the account balances.

c. Prepare a trial balance.

d. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows.

e. Prepare the closing entries at December 31.

f. Prepare a trial balance after the closing entries are posted.

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Jan. 30 Established the business when it acquired $75,000 cash from the issue of common stock. Feb. 1 Paid rent for office space for two years, $24,000 cash. Apr. 10 Purchased $5,300 of supplies on account. July 1 20 Aug. 15 Received $50,000 cash in advance for services to be provided over the next year. Paid $1,800 of the accounts payable from April 10. Billed a customer $32,000 for services provided during August. Sept. 15 Completed a job and received $19,000 cash for services rendered. Oct. 1 Paid employee salaries of $20,000 cash. 15 Nov. 16 Dec. 1 31 Received $25,000 cash from accounts receivable. Billed customers $37,000 for services rendered on account. Paid a dividend of $6,000 cash to the stockholders. Adjusted records to recognize the services provided on the contract of July 1. 31 Recorded $4,500 of accrued salaries as of December 31. 31 Recorded the rent expense for the year. (See February 1.) 31 Physically counted supplies; $480 was on hand at the end of the period.