Required information

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

Skip to question

[The following information applies to the questions displayed below.]

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.

Problem 3-32A Part a

Required a. Record the preceding transactions in the general journal, in the given order. (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

c. Prepare a trial balance. (Round your final answers to the nearest whe SMITH TRAINING COMPANY Trial Balance December 31, Year 1 Account Titles Debit Credit Totals o Problem 3-32A Part d of 6 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.) SMITH TRAINING COMPANY Financial Statements For the Year Ended December 31, Year 1 Income Statement ook Expenses int rences Total expenses Statement of Changes in Stockholders' Equity Total Stockholders' Equity f. Prepare a post-closing trial balance for Year 1. (Round your final answers SMITH TRAINING COMPANY Post-Closing Trial Balance December 31, Year 1 Account Titles Debit Credit Totals