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PLEASE HELP! please ignore the numbers typed in the boxes, those are my current(wrong) answers. Required Information The following information applies to the questions displayed
PLEASE HELP! please ignore the numbers typed in the boxes, those are my current(wrong) answers.
Required Information The following information applies to the questions displayed below] The following transactions pertain to Smith Training Company for Year 1 : Jan. 38 Established the business when it acquired $52,800 cash from the issue of comon stock. Feb. 1 Paid rent for office space for two years, $27,009 cast. Apr. 10 Purchased 387e of supplies on account. July 1 Received 524,600 cash in advance for services to be provided over the next year. 20 Paid 5653 of the accounts payable fron April 19. Aug. 15 B11led a customer 59,780 for services provided during August. Sept,15 conpleted a job and received 32,90e cash for services rendered. oct. 1 Paid employee salaries of $37,600 cash. 15 Received $7,5e cash fron accounts receivable. Nov. 16 Billed customers $36,5e0 for services rendered on account. Dec. 1 Paid a dividend of $1,080 cash to the stockholders. 31 Adjusted records to recognize, the services provided on the contract of July 1. 31 Recorded \$2, 10e of accrued salaries as of Decenber 31. 31 Recorded the rent expense for the year. (See February 1.) 31 Physically counted supplies; $900 was on hand at the end of the period. d. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Yea (Statement of Cash Flows only, enter any decreases to account balances and cash outflows whth o minus sign.) SMITH TRAINING COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities: Received from customers 5 34.400 Paid for expenses Paid for dividends (27,653) Net cash flows from operating activities (37.000) Cash flows from investing activities Cash flows from financing activities: Received from stock issue Paid for dividends $ 52,000 Net cash flows from financing activities Net change in cash (1.000) Plus: Beginning cash balance Ending cash balance 520.747 Step by Step Solution
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