The following events apply to Paradise Vacations$$s first year of operations:

Acquired $$38,000$ cash from the issue of common stock on January $1,$ Year $1.$

Purchased $$1,700$ of supplies on account.

Paid $$6,360$ cash in advance for a one$-$year lease on office space.

Earned $$46,350$ of revenue on account.

Incurred $$15,200$ of other operating expenses on account.

Collected $$33,000$ cash from accounts receivable.

Paid $$9,900$ cash on accounts payable.

Paid a $$4,800$ cash dividend to the stockholders.

Information for Adjusting Entries

There was $$330$ of supplies on hand at the end of the accounting period.

The lease on the office space covered a one$-$year period beginning November $1.$

There was $$5,400$ of accrued salaries at the end of the period.

Required

a$.$ Record these transactions in general journal form.

b$.$ Post the transaction data from the journal to ledger T$-$accounts.

c$.$ Prepare a trial balance.

d$-1.$ Prepare an income statement.

d$-2.$ Prepare a statement of changes in stockholders$$ equity.

d$-3.$ Prepare a balance sheet.

d$-4.$ Prepare a statement of cash flows.The following events apply to Paradise Vacations's first year of operations:

Acquired $$38,000$ cash from the issue of common stock on January $1,$ Year $1.$

Purchased $$1,700$ of supplies on account.

Paid $$6,360$ cash in advance for a one$-$year lease on office space.

Earned $$46,350$ of revenue on account.

Incurred $$15,200$ of other operating expenses on account.

Collected $$33,000$ cash from accounts receivable.

Paid $$9,900$ cash on accounts payable.

Paid a $$4,800$ cash dividend to the stockholders.

Information for Adjusting Entries

There was $$330$ of supplies on hand at the end of the accounting period.

The lease on the office space covered a one$-$year period beginning November $1.$

There was $$5,400$ of accrued salaries at the end of the period.

Required

a$.$ Record these transactions in general journal form.

b$.$ Post the transaction data from the journal to ledger T$-$accounts.

c$.$ Prepare a trial balance.

d$-1.$ Prepare an income statement.

d$-2.$ Prepare a statement of changes in stockholders' equity.

d$-3.$ Prepare a balance sheet.

d$-4.$ Prepare a statement of cash flows.The following events apply to Paradise Vacations's first year of operations:

Acquired $$38,000$ cash from the issue of common stock on January $1,$ Year $1.$

Purchased $$1,700$ of supplies on account.

Paid $$6,360$ cash in advance for a one$-$year lease on office space.

Earned $$46,350$ of revenue on account.

Incurred $$15,200$ of other operating expenses on account.

Collected $$33,000$ cash from accounts receivable.

Paid $$9,900$ cash on accounts payable.

Paid a $$4,800$ cash dividend to the stockholders.

Information for Adjusting Entries

There was $$330$ of supplies on hand at the end of the accounting period.

The lease on the office space covered a one$-$year period beginning November $1.$

There was $$5,400$ of accrued salaries at the end of the period.

Required

a$.$ Record these transactions in general journal form.

b$.$ Post the transaction data from the journal to ledger T$-$accounts.

c$.$ Prepare a trial balance.

d$-1.$ Prepare an income statement.

d$-2.$ Prepare a statement of changes in stockholders' equity.

d$-3.$ Prepare a balance sheet.

d$-4.$ Prepare a statement of cash flows.