10 Part 4 167 points Required information Problem 3-32A Comprehensive problem: single cycle LO 3-1, 3-2, 3-3, 3.4 The following information applies to the questions displayed below) The following transactions pertain to Smith Training Company for Yeart Jan. 3 Established the business when it acquired $47,000 cash from the issue of comon stock. Feb. Paid rent for office space for two years, $15,700 cash. Apr. 10 Purchased 5790 of supplies on account. July 1 Received $24,500 cash in advance for services to be provided over the next year. Aug. 15 Billed a custoner $10,con for services provided during August. Sept. 15 Completed a job and received $2,900 cash for services rendered. Oct. 1 Paid ero lovee salaries of $32,000 cash 15 Received 50,410 cash from accounts receivable Nov. 16 Billed customers $39.500 for services rendered on account. 31 Adjusted records to recognize the services provided on the contract of July 1. 31 Recorded 52,200 of accrued salaries as of December 31 31 Recorded the rent expense for the year. (See February 1. 31 Physically counted supplies: 5120 was on hand at the end of the period. B References Problem 3-32A Part d d. Prepare an income statement statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Year 1 (Round your final answers to the nearest whole dollar amount. Statement of Cash Flows only. items to be deducted must be indicated with a negative amount.) UO. 01 1 IULI SULAITILA BUILV 10 Required information Part 4 of 6 1.67 points eBook Print $ 0 0 SMITH TRAINING COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flow from operating activities: Received from customers Paid for expenses $ 0 Net cash flow from operating activities Cash flow from investing activities Cash flows from financing activities: Paid for dividends $ (800) Received from stock issue 47,000 0 Net cash flow from financing activities Net change in cash Plus: Beginning cash balance Ending cash balance References 46,200 46,200 0 46,200 $ 11 Required information Part 5 of 6 e. Record the entries to close the Year 1 temporary accounts to Retained Earnings in the general journal and post to the T-account no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final ans to the nearest whole dollar amount.) 1.67 points View transaction list Skipped Journal entry worksheet eBook Record the closure of service revenue. Print Note: Enter debits before credits References Date General Journal Debit chadit Dec 31 Record entry Clear entry View general Journal 12 Sept. 15 Completed a job and received $2,900 cash for services rendered. Oct. 1 Paid employee salaries of $32,000 cash. 15 Received $8,400 cash from accounts receivable. Nov. 16 Billed customers $39,500 for services rendered on account. Dec. 1 Paid a dividend of $800 cash to the stockholders. 31 Adjusted records to recognize the services provided on the contract of July 1. 31 Recorded $2,200 of accrued salaries as of December 31. 31 Recorded the rent expense for the year. (See February 1.) 31 Physically counted supplies; $120 was on hand at the end of the period. Part 6 of 6 167 points Problem 3-32A Partf Skipped f. Prepare a post-closing trial balance for Year 1. (Round your final answers to the nearest whole dollar amount.) eBook SMITH TRAINING COMPANY Post-Closing Trial Balance December 31, Year 1 Account Titles Debit Print Credit References Totals S 0 $ 0