The following events apply to Paradise Vacationss first year of operations:

Acquired $26,000 cash from the issue of common stock on January 1, Year 1.

Purchased $1,100 of supplies on account.

Paid $4,920 cash in advance for a one-year lease on office space.

Earned $34,350 of revenue on account.

Incurred $13,400 of other operating expenses on account.

Collected $27,000 cash from accounts receivable.

Paid $9,300 cash on accounts payable.

Paid a $3,600 cash dividend to the stockholders.

Information for Adjusting Entries

There was $210 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 $4,200 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.

PARADISE VACATIONS Statement of Cash Flows For the Year ended December 31, Year 1 \begin{tabular}{|l|l|r|} \hline Cash flows from operating activities & & \\ \hline & & \\ \hline & & \\ \hline Net cash flow from operating activities & & $ \\ \hline Cash flows from investing activities & & \\ \hline Cash flows from financing activities & & \\ \hline & & \\ \hline & & \\ \hline Net cash flow from financing activities & & 0 \\ \hline Net change in cash & & \\ \hline & & \\ \hline Ending cash balance & & \\ \hline \end{tabular}