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The following events apply to Paradise Vacations's first year of operations: 1. Acquired $29,000 cash from the Issue of common stock on January 1 ,
The following events apply to Paradise Vacations's first year of operations: 1. Acquired $29,000 cash from the Issue of common stock on January 1 , Year 1. 2. Purchased $1,250 of supplies on account. 3. Pald $5,280 cash in advance for a one-year lease on office space. 4. Earned $37,350 of revenue on account. 5. Incurred $13,850 of other operating expenses on account. 6 . Collected $28,500 cash from accounts recelvable. 7. Paid $9,450 cash on accounts payable. 8. Paid a $3,900 cash dividend to the stockholders. Information for Adjusting Entrles 9. There was $240 of supplies on hand at the end of the accounting period. 10. The lease on the office space covered a one-year perlod beginning November 1. 11. There was $4,500 of accrued salarles at the end of the perlod. 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. Complete this question by entering your answers in the tabs below. Record these transactions in general journal form. (If no entry is required for a event, select "No j account field.) Journal entry worksheet Acquired $29,000 cash from the issue of common stock on January 1 , Year 1. Note: Enter debits before credits. Post the transsction duta from the journal to ledgerT-accounts, d-2. Prepare a statement of changes in stocknolders equity. d-3. Prepare a balance sheet. d-4. Prepare a statement of cash flows. Complete this question by entering your answers in the Prepare a trial balance, Complete this question by entering your answers in the Prepare an income statement. Complete this question by entering your answers in Prepare a statement of changes in stockholders' equity. Prepare a balance sheet. Dranara a statement of cash flows. (Cash outflows should be indicated
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