Rent a Yurt, Co$.$ is a publicly traded company with a calendar fiscal year. It follows US GAAP and thus accrual accounting.

The following abbreviated transactions occurred in the current year ended December $31,20$X$1.$

RAY collected $$200,000$ rent in cash from tenants during the current year for occupancy during the current year.

$($Use "all year" in the date fields$)$

$$6,000$ of tenants' current$-$year December rent will be collected in January of next year. $($Record with a date of

December $31)$

Some tenants prepaid their January rent on December $25,$ of the current year, in the amount of $$4,000.$

On January $10,$ of the current year, RAY paid employees $$8,000$ for work done in the prior year.

During the current year, RAY paid employees $$50,000$ for work done in the current year. $($Use "all year" in the

date fields$)$

At the end of the current year, RAY owed employees $$2,000$ for work performed in December that will be paid in

January of next year. $($Record with a date of December $31)$

RAY keeps certain supplies on hand. The dollar amount of supplies on hand on January $1$ of the current year was

$$4,000,$ and an additional $$3,000$ of supplies were purchased on June $30,$ of the current year.

At the end of the current year, $$2,000$ of supplies remained on hand. $($Record the adjustment with a date of

December $31).$ Be sure to show your calculation for the adjusting entry.

RAY realized sales were not as expected and on October $15,$ RAY prepaid advertising of $$12,000$ to be used

equally over $12$ months beginning November $1,$ of the current year. Be sure to show your calculation for the

adjusting entry.

RAY declared and paid $$2,000$ in dividends to its shareholders on December $15,$ of the current year. Use the

Dividends account and then close that account to RE on December $31.$

Requirements: Please use the Excel file provided for you. Also included is a Post closing TB from $20$X$0$ for General Ledger

beg. balances. Enter the balances in the balance column, not the DR$/$CR columns as these are not transactions.

D$.$ Calculate the net cash flows and enter the amounts in the table provided. Again, show any calculations and written explanations.