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Required information [The following information applies to the questions displayed belowj The following transactions pertain to Smith Training Company for Year 1: Jan. 30 Established
Required information [The following information applies to the questions displayed belowj The following transactions pertain to Smith Training Company for Year 1: Jan. 30 Established the business when it acquired $54,000 cash from the issue of common stock. Feb. 1 Paid rent for office space for two years, $16,000 cash. Apr. 10 Purchased $900 of supplies on account. July 1 Received $23,000 cash in advance for services to be provided over the next year. 20 Paid $675 of the accounts payable from April 10. Aug. 15 Billed a customer $9,600 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 $8,700 cash from accounts receivable Nov. 16 Billed customers $37,500 for services rendered on account. Dec. 1 Paid a dividend of $1,500 cash to the stockholders. 31 Adjusted records to recognize the services provided on the contract of July 1. 31 Recorded $2,150 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. b. Post the transactions to T-accounts and calculate the account balances. (Round your answers to the nearest whole doller amount.) Cash Accounts Receivable Beg. Bal. Beg. Bal End. Bal End. Bal Prepaid Rent Supplies Beg. Bal. Beg. Bal End. Bal End. Bal Accounts Payable Unearned Revenue Beg. Bal Beg. Bal End. Bal Salaries Payable Common Stock Beg. Bal Beg. Bal End. Bal End. Bal Dividends Service Revenue Beg. Bal Beg. Bal Required information End. Bal End. Bal. Dividends Service Revenue Beg. Bal Beg. Bal End. Bal. End. Bal. Rent Expense Salaries Expense Beg. Bal Beg. Bal End. Bal End. Bal. Supplies Expense Beg. Bal End. Ball
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