The following transactions pertain to Smith Training Company for Year 1 SMITH TRAINING COMPA Financial Statements Dan. 30 Established the business when it acquired $54,000 cash from the issue ot commn stock Feb. 1 Paid rent for office space for two years, $15,880 cash Apr. 10 Purchased $770 of supplies on account July 1 Received $21,see cash in advance for services to be provided over the next year For the Year Ended December 31, Year 1 Income Statement 20 Paid $578 of the accounts payable from April 10 Expenses Aug. 15 Billed a customer $10,0ea for services provided during August Sept.15 Completed a job and received $3,880 cash for services rendered Oct. 1 Paid employee salaries of $36,500 cash 15 Received $8,000 cash from accounts receivable Nov. 16 Billed customers $37,800 forservices rendered on account Dec 1 Paid a dividend of $1,70a cash to the stockholders Total expenses 31 Ad justed records to recognize the services provided n the contract of July 1. 31 Recorded $2,450 of accrued salaries as of December 31 31 Recorded the rent expese for the year. (See February 1.) 31 Physically counted supplies; $110 was on hand at the end of the period Statement of Changes in Stockholders' Equity Total Stockholders' Equity 514 432px 100% 1912 x 825px O Type here to search 1135 AM 511/2019 20