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

Acquired $32,000 cash from the issue of common stock on January 1, Year 1.

Purchased $1,400 of supplies on account.

Paid $5,640 cash in advance for a one-year lease on office space.

Earned $40,350 of revenue on account.

Incurred $14,300 of other operating expenses on account.

Collected $30,000 cash from accounts receivable.

Paid $9,600 cash on accounts payable.

Paid a $4,200 cash dividend to the stockholders.

Information for Adjusting Entries

There was $270 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 $4,800 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.