The following transactions pertain to Smith Training Company for Year 1:

January 30	Established the business when it acquired $45,000 cash from the issue of common stock.
February 1	Paid rent for office space for two years, $24,000 cash.
April 10	Purchased $3,200 of supplies on account.
July 1	Received $24,000 cash in advance for services to be provided over the next year.
July 20	Paid $1,500 of the accounts payable from April 10.
August 15	Billed a customer $18,000 for services provided during August.
September 15	Completed a job and received $8,400 cash for services rendered.
October 1	Paid employee salaries of $12,000 cash.
October 15	Received $15,000 cash from accounts receivable.
November 16	Billed customers $42,000 for services rendered on account.
December 1	Paid a dividend of $15,000 cash to the stockholders.
December 31	Adjusted records to recognize the services provided on the contract of July 1.
December 31	Recorded $3,600 of accrued salaries as of December 31.
December 31	Recorded the rent expense for the year. (See February 1.)
December 31	Physically counted supplies; $280 was on hand at the end of the period.

Required a. Record the preceding transactions in the general journal.

b. Post the transactions to T-accounts. (You will also post the closing entries in Req E to these T-accounts.)

c. Prepare an adjusted Trial Balance.

d-1. Prepare an income statement for Year 1.

d-2. Prepare a statement of changes in stockholders equity for Year 1.

d-3. Prepare a balance sheet for Year 1.

d-4. Prepare a statement of cash flows for Year 1.

e. Record the entries to close the Year 1 temporary accounts to Retained Earnings in the general journal.

f. Prepare a post-closing trial balance for December 31, Year 1.

d Will alan mant tha alanimn antwian im nan c to Prepare an adjusted Trial Balance. Prepare a statement of changes in stockholders' equity for Year 1. Prepare a balance sheet for Year 1. \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ SMITH TRAINING COMPANY } \\ \hline \multicolumn{1}{|c|}{ Balance Sheet } \\ \hline \multicolumn{1}{|c|}{ As of December 31, Year 1 } \\ \hline Assets & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total assets & & \\ \hline Liabilities & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total liabilities & & \\ \hline Stockholders' Equity & & \\ \hline & & \\ \hline & & \\ \hline Total stockholders' equity & & \\ \hline Toquity & & \\ \hline \end{tabular} Prepare a statement of cash flows for Year 1. (Enter cas \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ SMITH TRAINING COMPANY } \\ \hline \multicolumn{1}{|c|}{ Statement of Cash Flows } \\ \hline \multicolumn{1}{|c|}{ For the Year Ended December 31, Year 1 } \\ \hline Cash flows from operating activities: & & \\ \hline & & \\ \hline Netcashflowfromoperatingactivities & $ \\ \hline Cash flows from investing activities: & & \\ \hline & & \\ \hline & & \\ \hline Netcashflowfrominvestingactivities & & \\ \hline Cash flows from financing activities: & & \\ \hline & & \\ \hline \end{tabular} ournal entry worksheet Record the closing entry for expenses. ote: Enter debits before credits. Journal entry worksheet Record the closing entry for revenues. Note: Enter debits before credits. Journal entry worksheet Record the closing entry for dividends. Note: Enter debits before credits. Prepare a post-closing trial balance for December 31, Year 1