Required information

Problem 3-32A Comprehensive problem: single cycle LO 3-1, 3-2, 3-3, 3-4

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The following transactions pertain to Smith Training Company for Year 1:

Jan.	30		Established the business when it acquired $47,000 cash from the issue of common stock.
Feb.	1		Paid rent for office space for two years, $16,200 cash.
Apr.	10		Purchased $850 of supplies on account.
July	1		Received $26,000 cash in advance for services to be provided over the next year.
	20		Paid $638 of the accounts payable from April 10.
Aug.	15		Billed a customer $9,400 for services provided during August.
Sept.	15		Completed a job and received $2,500 cash for services rendered.
Oct.	1		Paid employee salaries of $31,000 cash.
	15		Received $7,600 cash from accounts receivable.
Nov.	16		Billed customers $32,500 for services rendered on account.
Dec.	1		Paid a dividend of $500 cash to the stockholders.
	31		Adjusted records to recognize the services provided on the contract of July 1.
	31		Recorded $2,350 of accrued salaries as of December 31.
	31		Recorded the rent expense for the year. (See February 1.)
	31		Physically counted supplies; $100 was on hand at the end of the period.

Che Required information b. Post the transactions to T-accounts and calculate the account balances. (Note: The balances before closing must be transferred to the T-accounts in Part e.) (Round your answers to the nearest whole dollar amount.) Cash Accounts Receivablo Beg Bal. Beg Bat Balance before closing 0 0 Balance before dosing Prepaid Rent Supplies Bag. Bat. Beg Bal 0 Balance before closing 0 Balance before closing Unearned Revenue Accounts Payable Bag. Bal Beg Bal 01 Balance before closing Balance before closing 0 12 of 12 Required information Balance before closing Balance before closing Salarlos Payable Common Stock Beg. Bal Beg. Bat. Balance before closing 0 Balance before closing 0 Dividends Service Revenue Beg. Bal Beg. Bal Balance before closing 0 Balance before closing 0 0 Rent Expenso Salaries Expenso Beg. Bat. Beg Bal Balance before closing 0 0 Balance before closing 0 WW E Supplies Expense Beg. Bal. Balance before closing 0 0 AT&T Journal entry worksheet N 3 > Record the closure of service revenue. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Journal entry worksheet 1 3 3 Record the closure of expenses account. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Journal entry worksheet